Alcon to Acquire Eye Surgery Company Ivantis for $475 Million

Alcon to Acquire Eye Surgery Company Ivantis for $475 Million

November 09, 2021

Alcon has agreed to buy Ivantis, developer and manufacturer of the Hydrus Microstent - a tiny stent to treat glaucoma. The deal will strengthen Alcon's surgical glaucoma portfolio and allow it to enter the growing MIGS category.

As a part of the agreement, Alcon will initially pay $474 million, with future payments based on regulatory and commercial milestones.

The Hydrus is a minimally invasive glaucoma surgery (MIGS) device that is used in conjunction with cataract surgery to reduce IOP in open-angle glaucoma patients.

Hydrus Microstent's five-year HORIZON clinical study is the longest, continuous follow-up of a MIGS device. It showed that at 5 years after the Hydrus Microstent was implanted, 65% of patients were still medication-free.

When compared to cataract surgery alone, the results revealed a 60% reduction in the risk of invasive subsequent glaucoma procedures, and the safety profile was maintained over a 5-year follow-up.

The Hydrus Microstent obtained the best score for quality body of evidence and a strong recommendation among MIGS assessed in the 2020 American Academy of Ophthalmology Primary Open-Angle Glaucoma Preferred Practice Pattern (PPP).

“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," David Endicott, CEO of Alcon, said in a company news release.

"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.”

“Thanks to the relentless, unwavering commitment of Ivantis employees and our investors, we now have the opportunity to bring the clinically proven Hydrus technology to more glaucoma patients worldwide,” said Dave Van Meter, President and CEO of Ivantis.

In August 2018, the FDA approved Hydrus Microstent for use in conjunction with cataract surgery in the United States.

The MIGS device is approved for primary open-angle glaucoma in the United Kingdom, Canada, Australia, Singapore, and Germany, and can be used in conjunction with cataract surgery or as a stand-alone procedure.

The transaction, which is subject to customary closing conditions and regulatory approval, is expected to close in the first quarter of 2022.