AbbVie Teams With iSTAR Medical for Glaucoma Device

AbbVie has entered into a collaboration and potential purchase deal with iSTAR Medical, developer of the MINIject device for use in glaucoma surgeries.

The CE-marked MINIject device, which is used in minimally invasive surgical procedures, is not yet approved or cleared in the U.S. Belgium-based iSTAR Medical is currently enrolling participants in a U.S. study to support a premarket approval submission.

Under the terms of the agreement, iSTAR Medical will receive $60 million upfront and will continue to develop and commercialize MINIject until completion of the clinical study.

AbbVie will hold the exclusive right to acquire iSTAR Medical and lead subsequent global development and commercialization of the MINIject device.