Allergan to Acquire ForSight VISION5 for $95 Million

Global pharmaceutical giant Allergan plc is purchasing ForSight VISION5 Inc., a privately held, clinical-stage biotechnology company focused on eye care, for $95 million. The deal also includes a launch milestone payment related to ForSight’s lead development program, a peri-ocular ring designed for extended drug delivery and reducing elevated intraocular pressure (IOP) in glaucoma patients.

“The acquisition of ForSight and its ocular ring technology builds on Allergan’s history and commitment to eye care innovation,” said Brent Saunders, CEO and president of Allergan. “Allergan has been a leader in the development and introduction of treatments for underserved eye conditions, including glaucoma, chronic dry eye disease and other ocular conditions. The acquisition of this ring technology demonstrates our commitment to advancing products that can profoundly change the way patients receive treatment— through innovation that helps address non-compliance, increases adherence and improves tolerability.”

Today, the most common treatment to lower elevated intraocular pressure (IOP) in open-angle glaucoma is eye drop therapies. Nearly half of patients who are prescribed eye drops to manage their glaucoma may stop refilling their prescriptions after six months, often because of difficulty in using drops.ⁱ

The ring is a preservative-free, non-invasive peri-ocular product that rests on the surface of the eye (under the eyelids). It is inserted by an ophthalmologist or optometrist, and releases medication (bimatoprost) over multiple months to lower elevated IOP in glaucoma and ocular hypertensive patients.  

In 2015, ForSight announced results of its first randomized, controlled Phase 2 study comparing the investigational ring to twice-daily timolol eye drops. Data demonstrated that a single administration of the ring provided sustained reduction in IOP for six months with a reduction of 4-6 mmHg at the study’s primary endpoint of 12 weeks. Approximately 90 percent of subjects retained inserts in both eyes for six months without clinician assistance.

“ForSight’s ring technology has been shown to provide long-term intraocular pressure reduction through a non-invasive, passive technology for glaucoma and ocular hypertensive patients. If approved, this technology could  provide an important advance to address the significant challenges of patient compliance and adherence in glaucoma, a disease that is expected to impact more than 80 million people worldwide by 2020 and be a leading cause of blindness globally,” said David Nicholson, chief R&D officer at Allergan. “Importantly, this technology would also be highly complementary to our ongoing portfolio and development programs that are moving glaucoma treatment toward dropless therapies.”

The transaction is subject to the satisfaction of customary closing conditions and is expected to be completed within 60 days.

“With its expertise in eye care innovation and commercialization, its strong collaboration with the eye care community and its commitment to being a leading provider of game-changing dropless treatments for glaucoma, Allergan was a natural choice and a compelling partner for us to maximize the potential of our ring technology,” said Andy Corley, executive chairman of ForSight VISION5. “The addition of the ring technology to Allergan’s eye care development and commercialization organization represents a great day for clinicians and patients seeking a solution for the challenges of glaucoma treatment.”

“A safe and effective extra-ocular drug delivery therapeutic option is particularly suitable for the many patients with mild-to-moderate glaucomatous disease in whom more invasive modalities may not be ideal from a risk/benefit standpoint,” said Dr. Kuldev Singh, professor of ophthalmology and director of the Glaucoma Service at Stanford University (California).

Glaucoma is a group of diseases that damage the eye’s optic nerve and can result in vision loss and blindness.ⁱⁱ Several large studies have shown that eye pressure is a major risk factor for optic nerve damage.ⁱ In open-angle glaucoma, even though an ocular fluid drainage angle is “open,” the fluid passes too slowly through a meshwork drain.ⁱ When the fluid builds up, the pressure inside the eye rises to a level that may damage the optic nerve.ⁱ When the optic nerve is damaged from increased pressure, open-angle glaucoma-and vision loss may result.ⁱ In 2010, 60.5 million people globally were living with glaucoma.ⁱⁱ Given the aging of the world’s population, the number of people living with glaucoma may increase to nearly 80 million by 2020.ⁱⁱⁱ
 
Allergan plc, headquartered in Dublin, Ireland, is focused on developing, manufacturing and commercializing branded pharmaceuticals, devices and biologic products. The company markets a portfolio of brands and products for the central nervous system, eye care, medical aesthetics and dermatology, gastroenterology, women’s health, urology and anti-infective therapeutic categories.

ForSight VISION5 Inc. was founded in January of 2011 as the fifth company to emerge from the ophthalmic incubator ForSight Labs LLC. The company is focused on developing non-invasive drug delivery products that replace eye drops and provide sustained therapy for major eye diseases including glaucoma, dry eye, and allergy. ForSight VISION5’s lead peri-optical ring product candidate, a novel, non-invasive delivery system, is designed to allow glaucoma and ocular hypertensive patients to receive medication continually. ForSight VISION5’s investors include Versant Ventures, Morgenthaler Ventures, Technology Partners, Delphi Ventures, and H.I.G. BioVentures.

References
i Nordstrom, BL et al. “Persistence and Adherence with Topical Glaucoma Therapy” Am J Ophthalmol 2005;140:598–606.
ii National Eye Institute – Glaucoma Facts
iii Bright Focus Foundation – Glaucoma Facts & Figures