Biotech Values

[DewDiligence]

AGN acquires (private) AqueSys for $300M in cash plus contingencies:

http://finance.yahoo.com/news/allergan-acquire-glaucoma-treatment-company-211500230.html

Allergan plc…and AqueSys, Inc. a private clinical stage medical device company focused on developing ocular implants that reduce intraocular pressure (IOP) associated with glaucoma, today announced that they have entered into an agreement under which Allergan will acquire AqueSys in an all-cash transaction. Under the terms of the agreement, Allergan will acquire AqueSys for a $300 million upfront payment and regulatory approval and commercialization milestone payments related to AqueSys' lead development programs, including XEN45.

…XEN45 has received a CE mark in the European Union where it is indicated for the reduction of intraocular pressure in patients with primary open angle glaucoma where previous medical treatments have failed. The CE mark allows treatment in conjunction with a cataract procedure or as a standalone procedure. XEN45 is also approved for use in Turkey, Canada and Switzerland. AqueSys is pursuing reimbursement in these countries. In the United States, XEN45 is in late-stage development, with the final US Investigational Device Exemption (IDE) clinical trial fully enrolled in the second quarter of 2015. Final approval by the U.S. Food and Drug Administration is expected by late 2016 or early 2017 via the 510K device pathway.