Allergan and ForSight VISION5 announced have entered into an agreement under which Allergan will acquire ForSight VISION5 for a $95 million upfront payment and a launch milestone payment related to ForSight's lead development program, a periocular ring designed for extended drug delivery and reducing elevated IOP in glaucoma patients.
The ring is a preservative-free, noninvasive periocular product that rests on the surface of the eye (under the eyelids). It is inserted by an ophthalmologist or optometrist and releases bimatoprost over multiple months to lower elevated IOP in glaucoma and ocular hypertensive patients.
In 2015, ForSight announced results of its first randomized, controlled phase 2 study comparing the investigational ring to twice-daily timolol eye drops. Data demonstrated that a single administration of the ring provided sustained reduction in IOP for 6 months with a reduction of 4-6 mmHg at the study's primary endpoint of 12 weeks. Approximately 90 percent of subjects retained inserts in both eyes for 6 months without clinician assistance.
"ForSight's ring technology has been shown to provide long-term intraocular pressure reduction through a non-invasive, passive technology for glaucoma and ocular hypertensive patients. If approved, this technology could provide an important advance to address the significant challenges of patient compliance and adherence in glaucoma, a disease that is expected to impact more than 80 million people worldwide by 2020 and be a leading cause of blindness globally," David Nicholson, Chief R&D Officer, Allergan, said in a company news release. "Importantly, this technology would also be highly complementary to our ongoing portfolio and development programs that are moving glaucoma treatment toward dropless therapies."
"With its historic expertise in eye care innovation and commercialization, its strong collaboration with the eye care community and its commitment to being a leading provider of game-changing dropless treatments for glaucoma, Allergan was a natural choice and a compelling partner for us to maximize the potential of our ring technology," said Andy Corley, Executive Chairman, ForSight VISION5. "The addition of the ring technology to Allergan's world-class eye care development and commercialization organization represents a great day for clinicians and patients seeking an innovative solution for the challenges of glaucoma treatment."
"A safe and effective extraocular drug delivery therapeutic option is particularly suitable for the many patients with mild-to-moderate glaucomatous disease in whom more invasive modalities may not be ideal from a risk/benefit standpoint," said Dr. Kuldev Singh, Professor of Ophthalmology and Director of the Glaucoma Service, Stanford University.
The transaction is subject to the satisfaction of customary closing conditions and is expected to be completed within 60 days.