Alcon to acquire Ivantis, Hydrus microstent
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Alcon intends to acquire Ivantis, the developer and manufacturer of the Hydrus microstent, according to a company press release.
Alcon will pay $475 million upfront and may make additional contingent payments depending on regulatory and commercial milestones, the release said.
“Glaucoma is the second-largest cause of blindness after cataracts, impacting more than 75 million people globally, with significant unmet patient need. This transaction will allow us to add a uniquely effective product into our glaucoma portfolio around the world,” David Endicott, CEO of Alcon, said in the release. “Our global commercial footprint and development capabilities make us well positioned to build on the success of Ivantis and help even more patients see brilliantly with Hydrus microstent.”
The Hydrus microstent, a minimally invasive glaucoma surgery device designed to lower IOP in patients with open-angle glaucoma, was approved by the FDA in 2018 for use with cataract surgery. In the U.K., Canada, Australia, Singapore and Germany, the device is indicated for use with cataract surgery or as a stand-alone procedure.
“We started this with a mission to bring unprecedented scientific rigor to the MIGS space, and we are gratified and humbled by the rapid adoption of Hydrus since our launch in late 2018. Thanks to the relentless, unwavering commitment of Ivantis employees and our investors, we now have the opportunity to bring the clinically proven Hydrus technology to more glaucoma patients worldwide,” Dave Van Meter, president and CEO of Ivantis, said in the release.
The transaction is expected to close in the first quarter of 2022.