Allergan recently gained a new addition to its eye healthcare portfolio.
The pharmaceutical company announced it had acquired ForSight Vision5 for an upfront payment of $95 million gaining ownership of an experimental periocular ring designed to treat patients diagnosed with glaucoma.
The ring is inserted into the patient’s eye below the eyelids by an ophthalmologist or optometrist. It then issues the drug bimatoprost over a period of several months so it can relieve eye pressure associated with glaucoma and ocular hypertensive patients, wrote FierceBiotech.
Results from a Phase 2 study demonstrated that a single administration of the ring gave a sustained reduction of intraocular pressure for six months. Ninety percent of participants were able to keep the ring stationed within both eyes for the same period without needing clinician assistance.
David Nicholson, chief R&D officer at Allergan explained in a statement that the device, “could provide an important advance to address the significant challenges of patient compliance and adherence in glaucoma,” if it’s approved by the Food and Drug Administration.
Allergan pledged to pay ForSight milestone payments for the ring as it accomplishes different goals during clinical development.
Also, this marks another recent effort by Allergan to gain a foothold in the “underserved” eye condition market, according to FierceBiotech. The company filed an application last month with the FDA for a dry eye device that helps patients manage tear delivery.