Alcon to acquire Ivantis for $475 million

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Alcon this week announced its plans to acquire glaucoma surgery device maker Ivantis Inc. in a $475 million deal.


Alcon this week announced plans to acquire glaucoma surgery device maker Ivantis in a $475 million deal.

The planned acquisition affirms Alcon’s commitment to the surgical glaucoma space, further strengthening its industry-leading portfolio across cataract, refractive, retina and glaucoma.

According to the company, it will pay $475 million in upfront consideration to acquire Ivantis Inc. Alcon may be required to make additional contingent payments upon the achievement of certain regulatory and commercial milestones.

The transaction is anticipated to close in the first quarter of 2022 subject to customary closing conditions, including regulatory approval.

The five-year HORIZON clinical study of Hydrus Microstent is the longest, continuous follow-up of a MIGS device. It demonstrated that 65% of Hydrus Microstent 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.1

Among MIGS rated in the 2020 American Academy of Ophthalmology Primary Open-Angle Glaucoma Preferred Practice Pattern (PPP), the Hydrus Microstent received the highest grade for quality body of evidence and a strong recommendation.2

“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," David Endicott, CEO of Alcon, said in a statement. "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.”

“With more than 85,000 Hydrus devices implanted, now is the time to expand access globally, and Alcon is the right partner as the global leader in eye care,” Dave Van Meter, President and CEO of Ivantis, said in a statement. “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.”

Hydrus Microstent was approved by the FDA in August 2018 for use in conjunction with cataract surgery in the United States. In the UK, Canada, Australia, Singapore, and Germany, the MIGS device is indicated for primary open-angle glaucoma in conjunction with cataract surgery or as a stand-alone procedure.

References

  1. Ahmed, I.K. (2021, Mar. 4-7). 5 Year Follow Up from the HORIZON Trial. American Glaucoma Society Virtual Annual Meeting.
  2. Primary Open-Angle Glaucoma Preferred Practice Pattern®. Gedde, Steven J. et al. Ophthalmology 2020;128(1): 71-150.