Sector News

Allergan Successfully Completes Oculeve Acquisition

August 12, 2015
Life sciences
/PRNewswire/ – Allergan plc, a leading global pharmaceutical company, today announced that it has completed the acquisition of Oculeve, a development-stage medical device company focused on developing novel treatments for dry eye disease. Under the terms of the agreement, Allergan acquired Oculeve for a $125 million upfront payment and commercialization milestone payments related to Oculeve’s lead development program, OD-01. The agreement also includes the acquisition of an additional earlier-stage dry eye device development program.
 
“The acquisition of Oculeve further enhances Allergan’s world-class position in eye care and underscores our commitment to continuing to develop a broad range of treatment options for patients with eye conditions,” said Brent Saunders, CEO and President of Allergan. “Dry eye is currently an underserved condition, with many patients not receiving adequate treatment from over-the-counter options. Allergan is committed to expanding our product offerings in this category, and the development of OD-01, an intranasal neurostimulation device, is complementary to our market-leading dry eye treatment, Restasis®, as well as other dry eye products in development within our pipeline.”
 
The acquisition of Oculeve adds novel, complementary dry eye development programs to Allergan’s current eye care research and development programs, including OD-01, a non-invasive nasal neurostimulation device that increases tear production in patients with dry eye disease. Oculeve has completed four clinical studies of OD-01 to date in more than 200 patients, showing positive safety and efficacy of the device.  Allergan plans to conduct two additional pivotal trials prior to FDA submission, which is expected in 2016 with potential commercial launch in 2017.
 
Chronic dry eye is a disease that can be caused by advanced age, contact lens wear, certain medications, eye diseases, other medical conditions or environmental factors. One type of chronic dry eye is caused by decreased tear production due to inflammation. Without enough tears, the film protecting the eye can break down, creating dry spots on the cornea. Chronic dry eye is estimated to affect 25 million patients in the U.S.i
 
Source: Allergan

comments closed

Related News

June 8, 2024

Lilly CFO leaves to join Alphabet

Life sciences

Anat Ashkenazi will leave Eli Lilly’s executive suite at the end of July to become CFO and senior vice president of Google and Alphabet. Ashkenazi has been CFO at Lilly since 2021 and originally joined the company in 2001. Over her 23-year career at the Indianapolis-based drugmaker, Ashkenazi also served as controller, CFO of Lilly Research Laboratories and as the finance chief for several global divisions within the company.

June 8, 2024

Edwards Lifesciences to cell Critical Care to BD

Life sciences

Edwards Lifesciences (NYSE: EW) announced it has entered into a definitive agreement to sell its Critical Care product group to BD (Becton, Dickinson and Company), in an all-cash transaction valued at $4.2 billion. With this agreement, Edwards is no longer pursuing the previously announced spin-off of Critical Care.

June 8, 2024

Danaher names Martin Stumpe as chief data and AI officer

Life sciences

The company, which owns diagnostics and life sciences businesses including Beckman Coulter and Cepheid, said the appointment reflects its increasing investment in AI as “a driving force for innovation and productivity.” Danaher is focused on AI by also spending on its internal capabilities and partnering with academic groups.

How can we help you?

We're easy to reach