BRIEFLY
- AMO MERGES WITH VISX.
Advanced Medical Optics, Inc. (AMO) has
announced that it is acquiring laser vision correction giant VISX,
Inc. The agreement was unanimously approved by both company"s boards.
Under the terms of the merger agreement, VISX stockholders will receive
a total value of $26.52 per share of VISX common stock, based on the
closing price of AMO"s common stock on November 8, 2004. The total
consideration will be approximately 29.0 million shares of AMO stock
and $184 million in cash. Upon completion of the transaction, AMO"s
stockholders will own approximately 58.5 percent of the combined company
and VISX"s stockholders will own approximately 41.5 percent. The combined
company will retain the Advanced Medical Optics name and be headquartered
in Santa Ana, CA. For more information on the merger, go to www.amo-inc.com
or www.visx.com.
- INSPIRE PHARMACEUTICALS LICENSES
NOVEL GLAUCOMA TECHNOLOGY. Inspire Pharmaceuticals, Inc.,
has signed an agreement to license exclusively several patents from
the Wisconsin Alumni Research Foundation (WARF) for use in developing
and commercializing new glaucoma treatments. The patents are based
on research that focuses on inhibitors of actomyosin contractility
or actin microfilament assembly that can effectively relax and alter
the shape of the cells and tissue architecture within the trabecular
meshwork. The drugs act directly on the trabecular outflow pathway,
the site of abnormal flow resistance in glaucoma. Under the terms
of the agreement, Inspire undertakes the development of products covered
by the licensed patents and funds all further research, development,
testing, regulatory filings and potential marketing activities related
to any product developed from the license. Inspire will pay WARF potential
milestone payments during the development process, including a one-time
upfront payment, and will also pay royalties on sales of any regulatory
approved product developed from this technology and covered by the
associated patents. For more information, go to www.inspirepharm.com.
- FIRST-EVER MANUFACTURING AGREEMENT
SIGNED FOR AMD TRIAL DRUG. Acuity Pharmaceuticals, Inc.,
has signed a long-term manufacturing agreement with Avecia Biotechnology,
Inc., for pharmaceutical-grade supplies of its lead product, Cand5.
A small interfering RNA (siRNA), Cand5 uses RNAi technology to turn
off genes that produce the growth factor VEGF, believed to be a primary
cause of the excess leakage and blood vessel growth that lead to progressive
blindness in AMD patients. The substance is currently in Phase I clinical
trials in AMD patients--the first human clinical trials for an siRNA
therapeutic. Under the terms of the agreement, Avecia will supply
Acuity with Cand5 through the clinical development process up to commercial
launch of the drug. Financial details of the agreement were not disclosed.
- BAUSCH
& LOMB CELEBRATES EYECARE "VISIONARIES."
Bausch & Lomb recently honored the achievements of five eyecare
practitioners with the 2004 Bausch & Lomb Visionaries Recognition
Award. The program was established to commemorate the Companys
150th anniversary by honoring eyecare professionals who embody the
highest ideals in vision care. Receiving the 2004 awards were: Eleanor
E. Faye, MD, of Lighthouse International (New York); Bradley R. Staatsma,
MD, of the Jules Stein Eye Institute (Los Angeles); Michael T. Trese,
MD, of Associated Retinal Consultants (Royal Oak, MI); George O. Waring
III, MD, of InView Vision (Atlanta); and Karla Zadnik, OD, PhD, of
the Ohio State University College of Optometry. B&L will equally
distribute a total of $150,000 in donations to vision-related, nonprofit
organizations chosen by the five Visionaries. For more information
on the award recipients, go to www.perfectingvision.com.
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