Presbia acquires Neoptics assets for $2m

Presbia (NSDQ:LENS) said yesterday that its Irish subsidiary agreed to pay about $1.5 million to acquire some unspecified assets from Neoptics AG.

The CHF 1.5 million buyout includes Neoptics current and pending patents, trademarks, equipment, inventory, technical and other related documents, Presbia said. Hünenberg, Switzerland-based Neoptics makes the Icolens device, a lens designed to be implanted into the cornea to treat presbyopia.

The deal is slated to be paid out in 3 equal installments that began August 2; the other 2 payments are due Dece. 31, 2017, and Dec. 31, 2018, Dublin-based Presbia said.

Interim data from a U.S. pivotal trial of Presbia’s Flexivue microlens, released in May, showed an average gain of 5 lines of uncorrected near visual acuity and 99% maintenance of binocular uncorrected distance vision. The company has said it’s planning for a final PMA module submission in September 2017.

In February 2015, Presbia won FDA clearance to enroll patients in the 2nd stage of the pivotal study, a month after raising less than the $50 million midpoint set for its initial public offering; the 4.2 million-share IPO went off at $10 per share, rather than $11 to $13, for total proceeds of $42 million.

The Presbia lens won CE Mark approval in the European Union in December 2009.

The post Presbia acquires Neoptics assets for $2m appeared first on MassDevice.

from MassDevice http://ift.tt/2aJ7Fyi