AbbVie and iSTAR Medical Announce Strategic Alliance for the Treatment of Glaucoma
- Alliance will provide opportunity for AbbVie to further expand its diverse eye care portfolio and provide additional treatment options for glaucoma patients
- Collaboration further supports the role of MINIject® in the treatment of glaucoma and accelerates goal to bring MINIject to more patients globally
- Deal terms include a $60M upfront payment to iSTAR Medical
- iSTAR Medical to continue development and commercialization of the MINIject device up to completion of the U.S. PMA study
NORTH CHICAGO, Ill. and WAVRE, BELGIUM, July 20, 2022 - AbbVie (NYSE: ABBV) and iSTAR Medical SA, today announced a strategic transaction to further develop and commercialize iSTAR Medical’s MINIject® device, a next-generation minimally invasive glaucoma surgical (MIGS) device for patients with glaucoma. This complementary alliance will support iSTAR Medical’s development and commercial efforts for MINIject®, as well as provide an opportunity to expand AbbVie’s eye care business, building on its glaucoma portfolio which includes drops, sustained release implants, and stent offerings.
MINIject® received Conformité Européenne (CE) marking approval to commercialize in European countries in the last quarter of 2021 and launched commercially in select European countries in early 2022. iSTAR Medical is currently enrolling a U.S. Pre-Market Approval study (STAR-V) to enable commercialization in the U.S.
"As a leading company in eye care with a commitment to a broad and diverse portfolio from the front to the back of the eye, along with our global footprint and infrastructure in glaucoma, we are well-positioned to support bringing this MIGS offering to patients and glaucoma specialists through this strategic alliance," said Michael Robinson, M.D, Vice President, Global Therapeutic Area Head of Eye Care, AbbVie. "This alliance with iSTAR Medical is an important step as we continue to be an innovator in glaucoma by maximizing the value of interventional approaches throughout the treatment paradigm."
“Today’s announcement is validation of the transformational role of MINIject in the treatment of glaucoma,” said Michel Vanbrabant, Chief Executive Officer, iSTAR Medical. “Our commitment has always been to enable more glaucoma patients globally to be treated effectively in a minimally-invasive manner with our MINIject® MIGS device, and this alliance accelerates that goal, especially in the United States. We will benefit from AbbVie’s strong global experience and knowledge base already established in glaucoma, and we are excited to be working with such a world class team.”
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