GENEVA—Alcon a global eyecare company, announced on Monday its intention to acquire Ivantis, developer and manufacturer of the novel Hydrus Microstent, a minimally-invasive glaucoma surgery (MIGS) device designed to lower intraocular pressure for open-angle glaucoma patients in connection with cataract surgery. The intended 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 Alcon announcement. Alcon will pay $475 million in upfront consideration to acquire Ivantis, and may be required to make additional contingent payments upon the achievement of certain regulatory and commercial milestones, the announcement noted.

The transaction is anticipated to close in the first quarter of 2022 subject to customary closing conditions, including regulatory approval.
 
Ivantis is a privately-held company established in 2007 to design, develop and commercialize new technologies to treat eye disease.

The FDA approved Hydrus Microstent in August 2018 for use in conjunction with cataract surgery in the U.S. In the U.K., 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.
 
The five-year HORIZON clinical study of Hydrus Microstent is the longest, continuous follow-up of a MIGS device. It demonstrated that 65 percent of Hydrus Microstent patients remained medication-free at five years post-implant. The results also showed an over 60 percent 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,” said David Endicott, chief executive officer of Alcon. “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 eyecare,” Dave Van Meter, president and chief executive officer of Ivantis, 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.” 
 
The Hydrus Microstent received the highest grade for quality body of evidence and a strong recommendation among all of the MIGS devices rated in the 2020 American Academy of Ophthalmology Primary Open-Angle Glaucoma Preferred Practice Pattern (PPP), the announcement noted.