Key Takeaways

  • SpyGlass Pharma acquired Advanced Vision Science from Santen for approximately $13 million in cash, securing commercial-scale IOL manufacturing capacity
  • AVS currently supplies the IOL used in SpyGlass’ two phase 3 registrational trials of its BIM-IOL System and will continue manufacturing lenses for Santen and other ophthalmic companies
  • SpyGlass said the acquisition could support future expansion beyond its monofocal IOL to options including toric and extended depth-of-focus lenses compatible with its drug-delivery technology

SpyGlass Pharma has acquired Advanced Vision Science (AVS), an ophthalmic medical device manufacturer specializing in IOLs and lens materials, for approximately $13 million in cash.

The transaction gives SpyGlass ownership of commercial-scale IOL manufacturing capabilities as the company advances its BIM-IOL System through phase 3 development. AVS, previously a wholly owned subsidiary of Santen Pharmaceutical, currently supplies the IOL used in SpyGlass’ two phase 3 registrational trials of the system.

SpyGlass said bringing the manufacturing operation in-house is intended to secure its long-term IOL supply and provide capacity to develop additional lens configurations compatible with its drug-delivery technology.

“The acquisition of AVS for SpyGlass Pharma is strategically important as it secures our long-term supply of world class IOLs,” Patrick Mooney, CEO of SpyGlass Pharma, said in the announcement.

Mr. Mooney added that the acquisition could eventually support a broader range of lenses designed to work with the company’s drug-delivery pads, including toric and extended depth-of-focus IOLs.

SpyGlass is initially developing its technology around a monofocal IOL for patients with glaucoma or ocular hypertension undergoing cataract surgery. According to the company, acquiring AVS will not change its existing cash runway or strategic focus.

Under the agreement, AVS will serve as the exclusive manufacturer and supplier of several types of IOLs that Santen will continue to commercialize in Japan. AVS will also maintain its existing relationship with Bausch + Lomb, licensing its glistening-free hydrophobic acrylic lens material for use in the EnVista IOL platform. The company will continue manufacturing products for other IOL companies globally.