US-Based AqueSys to Be Bought By Irish Company Allergan

The Ireland-based pharmaceutical company Allergan, has agreed to acquire the medical device company AqueSys, for $300 million. The US-based company is working on the development of ocular implants to reduce the intraocular pressure (IOP) experienced by those with glaucoma.

The deal between Allergan and AqueSys will include commercialization milestone payments and regulatory approval associated with the XEN45 program, and other initiatives undertaken by AqueSys. XEN45 is the development program associated with AqueSys’ soft shunt which is implanted using a procedure that is minimally invasive and a pre-loaded, single use proprietary injector. The shunt fits in the subconjunctival space in the eye.

“The acquisition of AqueSys and its XEN45 program builds on Allergan’s deep and long standing commitment to innovation in eye care,” said Brent Saunders, president of Allergan. “Our eye care team has a strong track record of introducing novel treatments for patients with glaucoma.”

The XEN45 technology associated with the intraocular shunt has been shown to increase aqueous fluid flow to lower intraocular pressure (IOP). It also prevents against potentially dangerously low intraocular pressure – known as hypotony – which is a risk associated with current subconjunctival procedures.

“The acquisition of the XEN45 device demonstrates our commitment to alternative next-generation glaucoma treatments, which are appealing to both patients and physicians and extend beyond conventional medication eye drops,” said Saunders.

AqueSys received CE mark approval in the EU to use the XEN45 technology to reduce intraocular pressure in patients diagnosed with primary open angle glaucoma. The treatment is used after other approved therapies have failed to reduce intraocular pressure.

The soft shunt developed by AqueSys has also received approval in Switzerland, Turkey and Canada. The shunt can be implanted during a cataract procedure, or during a standalone surgery.

XEN45 is currently in late-stage development in the US. As of the second quarter of this year, the company had patients fully enrolled in the final investigational device exemption (IDE) clinical trial. The device is expected to receive FDA approval by late 2016 or early 2017, with the acquisition of AqueSys expected to be finalized by the fourth quarter of 2015.

Sources:

• Ireland’s Allergan agrees to buy US medical device firm AqueSys for $300m – http://www.medicaldevice-network.com/news/newsallergan-us-medical-device-firm-aquesys-4664420