Japan-based pharmaceutical company Santen announced plans to acquire Innfocus, an ophthalmology company developed within University of Miami’s Bascom Palmer Eye Institute.
Santen will purchase Miami’s Innfocus for an upfront payment of $225 million, plus performance-based consideration upon achievement of milestones. The transaction is pending approval. It comes as Innfocus is developing the MicroShunt, an ophthalmological device that drains eye fluid and reduces intraocular pressure. Ultimately, it functions as a non-invasive means of preventing the progression of vision loss and glaucoma.
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