QLT Inc. has entered into an agreement to acquire ForSight Newco II, Inc. The acquisition includes ForSight Newco II’s proprietary ocular punctual plug drug delivery system.
ForSight Labs LLC privately held ForSight Newco II, Inc., has entered into an agreement to be acquired by QLT Inc.. QLT Inc. is a global biopharmaceutical company dedicated to the discovery, development and commercialization of innovative therapies. Our research and development efforts are focused on pharmaceutical products in the fields of ophthalmology and dermatology.
The acquisition includes ForSight Newco II's proprietary ocular punctal plug drug delivery system. These punctal plugs are a non-invasive system capable of delivering a variety of drugs to the eye over time through controlled release to the tear film. Sustained release punctual plugs can replace eye drops for glaucoma, dry eye, allergies and postoperative care. The plugs may also provide a more effective, convenient and reliable treatment alternative that can finally improve patient compliance with their medication and outcomes for their disease. The first clinical phase I/II trial utilising this technology will target glaucoma. This system has the potential for multiple product opportunities, including treatment of glaucoma. Glaucoma affects ~65 million people worldwide and is the second leading cause of blindness. Approximately 99% of glaucoma patients are treated with topical medications; this new technology could address the uncertainty of patient-administered daily drops