Allergan to acquire glaucoma treatment company AqueSys

Ireland incorporated Allergan (NYSE: AGN) has entered into an agreement to acquire AqueSys, a private clinical stage medical device company focused on developing ocular implants that reduce intraocular pressure (IOP) associated with glaucoma.

Under the terms of the accord, Allergan will acquire AqueSys for a $300 million upfront payment and regulatory approval and commercialization milestone payments related to AqueSys' lead development programs, including XEN45.

"The acquisition of AqueSys and its XEN45 program builds on Allergan's deep and long-standing commitment to innovation in eye care," said Brent Saunders, chief executive and president of Allergan, adding:  "Our eye care team has a strong track record of introducing novel treatments for patients with glaucoma. The acquisition of the XEN45 device demonstrates our commitment to alternative next-generation glaucoma treatments which are appealing to both patients and physicians and extend beyond conventional medication eyedrops."