Multinational ophthalmic company Alcon has agreed to acquire privately-owned Californian firm Ivantis – and its Hydrus Microstent minimally invasive glaucoma surgery (MIGS) device – for an initial US$475 million (AU$640 m).
The deal was announced on 8 November, with Alcon set to now strengthen its glaucoma portfolio with a MIGS device that is roughly the size of an eyelash and designed to reduce intraocular pressure by re-establishing flow through Schlemm’s canal.
The Hydrus Microstent was approved by the US Food and Drug Administration in August 2018 for use in conjunction with cataract surgery. In the UK, Canada, Singapore, Germany and Australia – where it is technically referred to as a micro-bypass glaucoma surgery (MBGS) device – it’s indicated for primary open-angle glaucoma in conjunction with cataract surgery or as a stand-alone procedure.
According to Alcon, the five-year HORIZON clinical study of Hydrus Microstent is the longest, continuous follow-up of a MIGS device, which demonstrated 65% of patients remained medication-free at five years post-implant.
The results also showed over 60% reduction in risk of invasive secondary glaucoma surgeries compared to cataract surgery alone – and its safety profile was sustained through the five-year follow up.
“Glaucoma is the second-largest cause of blindness after cataracts, impacting more than 75 million people globally, with significant unmet patient need. This transaction will allow us to add a uniquely effective product into our glaucoma portfolio around the world,” Mr David Endicott, CEO of Alcon, said.
“Our global commercial footprint and development capabilities make us well positioned to build on the success of Ivantis and help even more patients see brilliantly with Hydrus Microstent.”
Under the terms of the deal, Alcon will pay US$475 million (AU$640 m) in upfront consideration to acquire Ivantis. Alcon may be required to make additional payments if certain regulatory and commercial milestones are reached. The transaction is anticipated to close in the first quarter of 2022 subject to customary closing conditions, including regulatory approval.
Ivantis CEO and president Mr Dave Van Meter said with more than 85,000 Hydrus devices implanted, it was the correct time to increase global access to the MIGS device
“And Alcon is the right partner as the global leader in eyecare,” he said.
“We started this with a mission to bring unprecedented scientific rigor to the MIGS space, and we are gratified and humbled by the rapid adoption of Hydrus since our launch in late 2018.
“Thanks to the relentless, unwavering commitment of Ivantis employees and our investors, we now have the opportunity to bring the clinically proven Hydrus technology to more glaucoma patients worldwide.”
The full announcement can be found here.
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