07.07.2015 - Irish pharma play Allergan plc. is boosting its eye care business by acquiring US-American medtech company Oculeve. Included in the deal are Oculeve’s dry eye disease development programmes.
For the San Francisco-based company, Allergan will shell out US$125m (€114m) upfront and pay commercialisation milestone payments for Oculeve’s lead programme OD-01. OD-01 is a non-invasive nasal neurostimulation device meant to increase tear production in patients with dry eye disease. Oculeve has already completed four clinical studies of the device, and has succeeded in showing its safety and efficacy. Allergan, in turn, will run two more trials before submitting OD-01 to the FDA. The Irish company has scheduled the commercial launch of the device for 2017. And there is certain to be a market for the device: 25 million patients in the US alone are affected by chronic dry eye, estimates say.
With the agreement, Dublin-headquartered Allergan also gains an additional earlier-stage dry eye device development programme. “Allergan is committed to developing a broad range of innovations that help patients address dry eye,” said David Nicholson, Executive Vice President, Global Brands Research and Development at Allergan. “The OD-01 programme has been shown to provide a strong safety and efficacy profile, and if approved, would provide an exciting new treatment option for patients that is complementary to our existing product offerings in this important treatment area.”
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