Santen Pharmaceuticals said today it picked up glaucoma-treating Microshunt developer InnFocus for $225 million, plus additional consideration upon reaching certain milestones.
The Microshunt system is designed to help reduce pressure within the eye in patients with moderate and late stage open angle glaucoma, and is intended to be an alternative to traditional glaucoma surgery.
“The InnFocus MicroShunt was developed to be the world’s 1st minimally invasive stand-alone procedure for mild, moderate and severe stage primary open angle glaucoma. In addition to reducing IOP, the MicroShunt does not require simultaneous cataract removal, unlike many MIGS technologies. The InnFocus team is very pleased to be joining Santen and its global effort to address this growing and important segment of the ophthalmic market,” InnFocus exec board chair Randy Lindholm said in a press release.
Under the acquisition agreement, InnFocus will be eligible for performance based payments based on achieving certain developmental, regulatory and commercial milestones. Santen said it will release additional details of the acquisition during its 1st quarter earnings announcement in August.
“With this acquisition, Santen will strengthen our glaucoma pipeline and stay at the forefront of innovation in ophthalmology. This agreement is in line with our long term vision to become a specialized pharmaceutical company with a global presence. I am truly excited about the MicroShunt as a new and effective treatment option that should significantly improve patient outcomes,” Santen CEO Akira Kurokawa said in a prepared statement.
In January, InnFocus released results from a 3-year trial of its MicroShunt drainage system designed to treat glaucoma patients, reporting a significant reduction in intraocular pressure and the use of glaucoma medication. Results from the study were published in the Journal of Glaucoma, the company said.
Patients in the study had an average pre-surgical medicated intraocular pressure of 23.8 mm Hg, and after 3-years of treatment with the MicroShunt system reported a 55% reduction in IOP at 10.7 mm Hg. More than 80% of the 22 patients studied had IOPs under 14 mm Hg, and 64% did not require any glaucoma meds after the 3rd year, the Miami, Fla.-based company said.
InnFocus said there were no reports of leaks, infections, migrations, erosions, persistent corneal edema, chronic hypotony or serious long-term adverse events during the trial.
MicroShunt received CE Mark clearance in January 2012. InnFocus is seeking to have the product approved in the U.S. for the treatment of primary open-angle glaucoma. The company has also been testing the product in conjunction with cataract surgery.