Allergan to buy AqueSys for at least £194 m

Allergan is to acquire AqueSys, a clinical-stage privately held medical device company, focused on developing ocular implants that reduce intraocular pressure (IOP) associated with glaucoma

Allergan will make an upfront payment of £194 million apart from regulatory approval and commercialisation milestone payments related to AqueSys' lead development programs, including XEN45.

In the EU, XEN45 has received a CE mark for the reduction of intraocular pressure in patients with primary open angle glaucoma where previous medical treatments have failed.

The device can be used in conjunction with a cataract procedure or as a standalone procedure. In the U.S., XEN45 is in late-stage development. Final decision by the FDA on XEN45 is expected by late 2016 or early 2017.

The deal is in line with Allergan's strategy of boosting and strengthening the ophthalmology portfolio. Last month, the company acquired development-stage medical device company, Oculeve, focused on the development of novel treatments for dry eye disease.