Irvine-based Aerie Pharmaceuticals Inc. bought the rights to use Envisia Therapeutics Inc.’s PRINT technology for $25 million in cash and Aerie common stock, with additional milestone payment potential.
Research Triangle Park, N.C.-based Envisia is a clinical-stage ophthalmic company that develops drugs to treat a variety of eye diseases, including glaucoma, diabetic macular edema and age-related macular degeneration. The PRINT technology, which produces drugs in precise microparticle and nanoparticle forms, can be used in ophthalmic and other therapeutic areas.
Aerie said it plans to use the technology to accelerate advancement of its preclinical product candidate, AR-13154, to treat conditions in the back of the eye, such as wet age-related macular degeneration and diabetic retinopathy.
The recent buy complements its announcement in July that it entered into collaborative research development with Dutch company Koninklijke DSM N.V. to license DSM’s bioerodible polymer implant technology to deliver AR-13154.
“A key to unlocking the potential of AR-13154 and related Aerie-owned compounds for the treatment of retinal diseases is the identification of the appropriate technology to achieve long-term sustained delivery of our small molecules to the back of the eye,” said Aerie Chairman and Chief Executive Vincente Anido.
Aerie, in addition to building out its back-of-the eye product portfolio, continues to pursue Food and Drug Administration approval of its two late-stage glaucoma drugs. Rhopressa and Roclatan are eye drops designed to lower intraocular pressure in patients with open-angle glaucoma. The company hopes Rhopressa will get FDA clearance next year. It’s completing two phase-three trials of Roclatan.
Aerie recently traded at about $53 per share for a $1.9 billion market cap. Its stock shot up in May after it announced positive trial data of its glaucoma drugs.
New HQ
MicroVention, a wholly-owned subsidiary of Japanese neurovascular company Terumo Corp., moved into its new headquarters in Aliso Viejo last month. The research and development facility at 35 Enterprise in the Summit Office Campus encompasses 205,000 square feet on 5.13 acres.
Chief Executive Richard Cappeta, who pointed out that the company returned to the city where it was founded in 1997, said, “We are by no means finished [with growth].”
The facility employs about 600 and can accommodate more than 800. Cappeta said MicroVention has plenty of room to grow there, where it has shell space on the fourth floor for future build-out.
MicroVention makes coils and related devices used in minimally invasive endovascular treatment of cerebral vascular aneurysm—an abnormal dilation of an artery in the brain that results in a hemorrhage. The bleeding can lead to stroke, coma and death. It was bought by Terumo in 2006.
The new facility consolidates the majority of MicroVention operations and functions, with features like clean room facilities, laboratories and a neuroradiology imaging lab. It also has a five-story, 822-stall parking structure. Manufacturing will continue at its old location in Tustin.
Cappetta said the new center will “promote physician collaboration and technology development.”
Monitor
Irvine-based patient monitoring device maker Masimo Corp. released Trace, patient data visualization and reporting software designed for its Root and Radical 7 monitors.
The company said clinicians who are interested in reviewing overnight sleep studies and six-minute walk patient data can benefit from the software’s ability to quickly generate reports on blood oxygen saturation.
The six-minute walk test measures the distance a patient is able to walk in six minutes; the goal is to walk as far as possible.
Masimo recently traded at $85 per share for a $4.4 billion market cap.
Pharmacy
Atlanta, Ga.-based Guardian Pharmacy Services and affiliate Ron Pharmacy in San Diego acquired Anaheim Plaza Pharmacy, which will operate as Guardian Pharmacy of Anaheim. Terms were undisclosed.
The purchase is part of Guardian’s portfolio expansion in Southern California. It has 30 locations nationwide.
Guardian provides pharmacy services to residents in assisted-living and other long-term care communities.
Bits & Pieces
Santa Ana-based Irvine Scientific expanded its manufacturing facility in Santa Ana, increasing single-powder media production batch sizes up to 7,000 kilograms. It specializes in cell culture media development and manufacturing. … Staar Surgical Co. named Deborah Andrews chief financial officer, effective Oct. 2. She was previously at Abbot Medical Optics, now Johnson & Johnson Vision. Staar is based in Monrovia, and maintains a manufacturing facility in Aliso Viejo. … Mynd Analytics Inc. in Mission Viejo appointed Peter Unanue to its board of directors, increasing the number to five. Unanue is executive vice president of Goya Foods Inc. Mynd develops PEER—Psychiatric EEG Evaluation Registry—a reporting platform that allows medical professionals to exchange treatment outcome data on patients with psychiatric disorders to improve selection of appropriate medication.
