AMO's big spend

Advanced Medical Optics (AMO) has announced its acquisition of Wavefront Sciences and its planned purchase of IntraLase.

AMO is to pay $808 million in cash for IntraLase. Under the terms of the agreement, it will pay $25 in cash per share of IntraLase stock and the individually determined cash value per share of outstanding stock options. The transaction is expected to be completed early in the second quarter of 2007.

Wavefront Sciences, the designer and manufacturer of high-resolution Shack-Hartmann based aberrometers, has been purchased for approximately $20 million. This sum includes a $14 million cash payment at closing and an agreement to make a total of $6 million in future cash payments contingent on the achievement of certain milestones over the next three years.

Ellex makes an innovative purchase

Ellex Medical Lasers has acquired Innovative Imaging, a company which specializes in the design and manufacture of diagnostic ultrasound systems.

The I3 System, created by Innovative Imaging, is used by more than 1,300 ophthalmic practices around the world, generating the company revenues of $2.3 million in 2005.

Athy Kalatzis, vice president of business development at Ellex, has assumed the role of general manager of Innovative Imaging.

Merck snaps up Sirna

Merck & Co has completed the acquisition of Sirna Therapeutics in a cash transaction, which closed in the fourth quarter of 2006.

Sirna Therapeutics is a clinical-stage biotechnology company that develops RNAi-based therapies for diseases such as age-related macular degeneration.

Sirna shareholders approved the acquisition at a special meeting held on 28 December, 2006.

B&L acquires allergy business

Bausch & Lomb has purchased Alimera Sciences' over-the-counter allergy franchise, including the recently FDA approved Alaway.

Alaway (ketotifen fumarate ophthalmic solution 0.025%), is an antihistamine indicated for up to 12 hours of temporary relief for itchy eyes resulting from ragweed, pollen, grass, animal hair and dander.

Financial details of the transaction were not disclosed.

Erratum ECP: consider it earlier!Assessing ECP as a primary and secondary glaucoma therapy candidate

Published in Ophthalmology Times Europe November 2006

We would like to announce a correction to the above-mentioned article. The pull quote, which appeared of the November 2006 issue of Ophthalmology Times Europe, should read: "Many doctors using ECP initially undertreat patients, which leads to the necessity to perform retreatments. This is understandable, as there is a fear of the consequence of over-treatment with ECP, but I have rarely, if ever, seen this" Philip Bloom, MD