Allergan plans to acquire ForSight VISION5 for $95 million-plus, the companies said today, in a deal that expands the buyer’s eye care product offerings with a development-stage alternative to eye drops.
The deal brings to Allergan ForSight’s lead development program, a periocular ring designed for extended drug delivery and reduced elevated intraocular pressure (IOP) in glaucoma patients.
The ring technology—an alternative to current treatment of lowering IPO through eye drops—is a preservative-free, noninvasive product that releases bimatoprost over multiple months to reduce elevated IOP in glaucoma and ocular hypertensive patients. The ring is inserted under the eyelids by an ophthalmologist or optometrist.
Last year, ForSight released data from its first Phase II study showing that a single administration of the ring provided sustained reduction in IOP for 6 months, with a reduction of 4–6 mmHg at the study's primary endpoint of 12 weeks.
In that study, which compared the ring to twice-daily timolol eye drops, approximately 90% of subjects retained inserts in both eyes for 6 months without clinician assistance.
“The acquisition of ForSight and its ocular ring technology builds on Allergan's rich history and deep commitment to eye-care innovation,” Allergan CEO and President Brent Saunders said in a statement.
David Nicholson, Allergan’s chief R&D officer, added that the ring technology complements the company’s eye-care portfolio and development programs, which include other dropless therapies for glaucoma.
According to its website, Allergan has 20 eye care products in its development pipeline of more than 65 programs. Three of the 20 are indicated for glaucoma: Bimatoprost SR, Tripligan, and the XEN Glaucoma Treatment System.
In June, Allergan said the FDA had accepted its 510(k) Premarket Notification Application for XEN, which consists of the XEN45 Gel Stent and the XEN Injector. Allergan acquired global rights to XEN45 last year when it bought AqueSys for $300 million upfront plus undisclosed milestone payments.
Eye care is one of Allergan’s areas of R&D focus, along with the central nervous system, medical aesthetics and dermatology, gastroenterology, women's health, urology, and anti-infective treatments.
Allergan agreed to acquire ForSight for $95 million upfront and a milestone payment of an undisclosed amount, tied to the launch of ForSight's lead development program.
The acquisition deal is expected to be completed within 60 days, subject to customary closing conditions.
Privately held ForSight was founded in January of 2011 as the fifth company to emerge from the ophthalmic incubator ForSight Labs. The company’s investors include investors include Versant Ventures, Morgenthaler Ventures, Technology Partners, Delphi Ventures, and H.I.G. BioVentures.
