Established in 2011, ForSight VISION5 is engaged in the development of non-invasive drug delivery products that replace eye drops and offer sustained therapy for eye diseases such as glaucoma, dry eye, and allergy.

The deal will also include the milestone payment related to ForSight's lead development program, including peri-ocular ring. It is designed for extended drug delivery and reducing elevated intraocular pressure (IOP) in glaucoma patients.

The peri-optical ring product candidate is a novel and non-invasive delivery system that will enable glaucoma and ocular hypertensive patients to receive medication continually.

Last year, the company revealed results of its first randomized and controlled Phase 2 study comparing the investigational ring to twice-daily timolol eye drops.

According to the firm, the date showed that a single administration of the ring provided sustained reduction in IOP for six months with a reduction of 4-6 mmHg at the study's primary endpoint of 12 weeks.

Subject to the satisfaction of customary closing conditions, the deal is expected to complete in the next two months.

Allergan CEO and president Brent Saunders said: "The acquisition of ForSight and its ocular ring technology builds on Allergan's rich history and deep commitment to eye care innovation.

"Allergan has been a leader in the development and introduction of novel treatments for underserved eye conditions, including glaucoma, chronic dry eye disease and other ocular conditions.”

ForSight VISION5 executive chairman Andy Corley said: "The addition of the ring technology to Allergan's world-class eye care development and commercialization organization represents a great day for clinicians and patients seeking an innovative solution for the challenges of glaucoma treatment."

Image: Allergan to acquire eye care company ForSight VISION5. Photo: courtesy of stockimages/ FreeDigitalPhotos.net.