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Aldeyra acquires Helio Vision
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Aldeyra Therapeutics has acquired the biotechnology company Helio Vision, according to a press release.
The acquisition adds Helio’s ADX-2191, intravitreal methotrexate, a phase 3 product candidate for the treatment of proliferative vitreoretinopathy, to Aldeyra’s pipeline.
ADX-2191 previously received orphan drug designation from the FDA.
“Helio Vision’s unique approach is at the crosshairs of our areas of expertise, leveraging an immunological mechanism that diminishes inflammation and cell proliferation, an orphan indication addressing a significant unmet medical need, the potential applicability to a variety of other diseases, and a phase 3-ready retinal program that represents another important catalyst in our development pipeline,” Aldeyra President and CEO Todd C. Brady, MD, PhD, said in the release.
The deal includes an upfront payment of $10 million in common stock to Helio Vision, which is subject to a 6-month lock-up period, as well as an additional $2.5 million in common stock 2 years after the closing date.
Helio shareholders are also eligible for up to $12.5 million in Aldeyra stock, dependent upon regulatory milestones.