No other details about the transaction were available at VMAIL’s press time. The terms of the transaction were not disclosed. Thomas Eye, which operates eyecare locations in Douglasville, Dunwoody, Kennesaw, Morrow and Stone Mountain, Ga., said it expects to “expand and provide eyecare to the ever-growing Atlanta community,” a recent announcement noted. Assuming a positive decision by the regulator in August, ACP could become the second.ATLANTA- Thomas Eye Group said it has acquired Georgia Optometry Group, adding five new locations throughout metro Atlanta market. In February 2023, the first-ever GA treatment was greenlit by the U.S. The market growth is also spurred by the emergence of new treatments for GA. The market size for GA was worth $37.8 billion in 2023 and could reach $126.41 billion by 2031. GA market to growĪs the population of many countries gets older, the need for treatments for AMD and GA are increasing. The acquisition is expected to close in late 2023. To bankroll the deal, Astellas amassed cash from bank loans and issuing of commercial paper. The deal, with a potential commercialization on the horizon, is expected to help Astellas beef up its revenues as the patent expires on Astella’s prostate cancer treatmnent, Xtandi, later this decade. With the Iveric buyout, Astellas continues to prioritize investments in blindness and regeneration, one of its five primary focuses. In the preclinical stage, Iveric also has a second treatment for GA, in addition to several gene therapy candidates for the rare conditions Stargardt disease, Leber congenital amaurosis type 10 and Usher syndrome type 2A. The program is currently in a phase 2 trial expected to finish next year. In addition to its lead program, Iveric is developing ACP for the treatment of the rare genetic condition autosomal recessive Stargardt disease. A decision is expected by August 19, 2023. FDA approval of ACP in GA based on promising results from two large clinical trials. In February 2023, Iveric applied for the U.S. The dysregulation of C5 leads to harmful inflammation linked to the development of GA, so ACP has the potential to slow the development of the condition. In this condition, cells in the retina degenerate and die with age, leading to visual impairment and eventually complete blindness.ĪCP is an oligonucleotide drug designed to block the cleavage of a protein in the complement immune system called C5. Iveric Bio’s lead candidate, avacincaptad pegol (ACP), is in development for the treatment of GA secondary to age-related macular degeneration (AMD). Dugel, president of Iveric Bio, in a public release. “The opportunity to create a world-class entity with the ophthalmology expertise and capabilities of Iveric Bio and the global reach and resources of Astellas is unique and has the potential to benefit patients worldwide suffering from blinding retinal diseases, including geographic atrophy (GA),” said Pravin U. Going forward, Iveric Bio will be an indirectly wholly-owned subsidiary of Astellas and will add its ophthalmology expertise and infrastructure to Astellas’ own efforts. This is a premium of 64% over Iveric Bio’s unaffected closing share price at the end of March, which was $24.33. Food and Drug Administration (FDA) in August 2023.Īstellas acquired Iveric via Berry Merger Sub, a subsidiary of Astellas U.S. This includes Iveric’s lead candidate, which is due for an approval decision from the U.S.
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