An affiliate of Canada-based eye health company Bausch + Lomb has acquired Elios Vision, a US-based medical technology company focused on glaucoma treatments.
Elios Vision has developed the ELIOS procedure, a clinically validated, minimally invasive glaucoma surgery (MIGS) procedure using an excimer laser.
Bausch + Lomb said the transaction strengthens its glaucoma portfolio, which comprises ophthalmological pharmaceutical and surgical approaches.
Also, the acquisition provides new opportunities to treat glaucoma, in conjunction with cataract surgery without implants, said the eye health company.
Bausch + Lomb surgical president Luc Bonnefoy said: “Today’s announcement further demonstrates our commitment to investing in smart, innovative technologies that enable eye care professionals to better address the evolving needs of their patients.
“The ELIOS system offers a differentiated approach for the treatment of glaucoma, a condition expected to increase in prevalence by 47% from 2020 to 2040.”
University of Toronto and Moran Eye Centre professor Ike Ahmed said: “ELIOS provides a tissue-friendly, precision non-thermal laser-based and highly adaptable procedure for the treatment of glaucoma.
“The synergy between cataract surgery and MIGS can help ophthalmologists provide streamlined care and improve patient quality of life.”
According to Bausch + Lomb, over 19% of patients who need cataract surgery also have glaucoma, and cataract surgery provides an optimal opportunity for glaucoma treatment.
MIGS offers a safe and effective approach to reducing intraocular pressure in less time, compared to other glaucoma surgery techniques.
Also, the surgical procedure is often performed in conjunction with cataract surgery, which is the most routinely performed surgery in the world.
Elios Vision has already secured the CE mark approval for ELIOS technology and is pursuing the US Food and Drug Administration (FDA) approval.
The ELIOS technology is currently marketed and sold in the European Union (EU).
Leerink Partners served as exclusive financial advisor and Wilson Sonsini Goodrich & Rosati, Professional Corporation as legal advisor to Elios Vision on the transaction.
Elios Vision former chairman and CEO Elliot Friedman said: “Bausch + Lomb’s extensive reach in cataract surgery will introduce ELIOS to a broader range of eye care professionals and help change the treatment paradigm for the estimated 80 million people worldwide living with glaucoma.
“The goal is to make combining cataract and glaucoma treatment the new standard of care, and that’s even more attainable given Bausch + Lomb’s presence in nearly 100 countries.”
Earlier this year, Bausch + Lomb received the US FDA approval for its enVista Envy intraocular lens (IOL) for continuous range of vision with enhanced dysphotopsia tolerance.
