Allergan Broadens Ophthalmic Portfolio With AqueSys Acquisition

Dublin, Ireland-based Allergan is acquiring ophthalmic devicemaker AqueSys for $300 million upfront plus additional regulatory approval and commercialization milestone payments.

The deal expands Allergan’s eye care portfolio by adding the XEN45, a soft shunt that facilitates aqueous fluid flow to lower intraocular pressure while protecting against the potential for hypotony — an abnormal drop in intraocular pressure, which is associated with current subconjunctival procedures.

The device — which is CE-marked in Europe — is implanted in the subconjunctival space in the eye through a minimally invasive procedure with a proprietary injector. It is expected to receive 510(k) approval from the FDA in late 2016 or early 2017, the companies said.

Allergan expects to close the deal in the fourth quarter of this year. — Michael Cipriano