Akorn gains stake in Aciex

Lake Forest, IL-Akorn has acquired a minority stake in Aciex Therapeutics, a Westborough, MA-based pharmaceutical company focused on developing first-in-class products to treat ocular diseases. Akorn is a niche pharmaceutical company engaged in the development, manufacture, and marketing of multisource and branded pharmaceuticals. The terms of the deal and the size of the stake were not disclosed.

Aciex’s product pipeline includes both clinical stage and pre-investigational new drug assets. The acquisition was accompanied by a global licensing deal that gives Akorn rights to a novel over-the-counter eye-care product, and a manufacturing agreement for one of Aciex’s lead prescription candidates.

“We are excited to partner with Aciex and have the opportunity to bring novel over-the-counter and prescription eye-care products to the market,” said Raj Rai, Akorn’s chief executive officer. “With this partnership, we have rounded out our strategy in ophthalmology to include generics, branded, and over-the-counter pharmaceuticals.” 

Akorn’s ophthalmology business markets diagnostic products, including mydriatics and cycloplegics, anesthetics, topical stains, gonioscopic solutions, and angiography dyes. Akorn also offers custom research and development and manufacturing services for injectable and ophthalmic products.

In May, Akorn acquired Advanced Vision Research, a firm that specializes in the over-the-counter dry eye market.