Kala enters agreement to sell Eysuvis, Inveltys to Alcon
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Kala Pharmaceuticals has entered into a definitive agreement to sell its commercial portfolio and related assets to Alcon, including Eysuvis and Inveltys.
Kala is to receive a $60 million upfront payment with additional sales-based milestone payments, according to a press release.
Eysuvis (loteprednol etabonate ophthalmic suspension 0.25%) is approved for the short-term treatment of the signs and symptoms of dry eye, and Inveltys (loteprednol etabonate ophthalmic suspension 1%) is a twice-daily corticosteroid treatment for postoperative pain and inflammation following ocular surgery.
“The sale of Eysuvis and Inveltys is an important step as we execute on our strategic plan and pursue our mission of delivering innovative therapies that can address significant unmet needs in ophthalmology,” Mark Iwicki, chairman and CEO of Kala, said in the release. “Alcon is an ideal partner to expand the reach of our commercial assets.”
Kala expects the deal to close in the third quarter, depending on certain conditions.
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