Allergan has agreed to acquire ForSight Vision5, a Menlo Park, California-based clinical-stage biotechnology company focused on eye care, for a $95- million upfront payment and 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 transaction is subject to the satisfaction of customary closing conditions and is expected to be completed within 60 days from August 11, 2016.

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

Source: Allergan