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Allergan to acquire ForSight Vision5
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Allergan has entered into an agreement to acquire ForSight Vision5, a clinical-stage biotechnology company focused on eye care, for a $95 million upfront payment.
The agreement also includes a launch milestone payment related to ForSight’s lead development program, a periocular ring designed for extended drug delivery to reduce IOP in glaucoma patients, according to a press release.
The preservative-free, noninvasive periocular ring rests on the surface of the eye. Medication to lower elevated IOP in patients with glaucoma or ocular hypertension is released from the ring over multiple months, according to the release.
In a randomized, controlled phase 2 study, data demonstrated that a single administration of the ring provided sustained reduction in IOP for 6 months, with a reduction of 4 mm Hg to 6 mm Hg at the primary endpoint of 12 weeks, according to the release.
The transaction is expected to be completed within 60 days.