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Aerie Pharmaceuticals acquires assets to advance ophthalmology pipeline

Aerie Pharmaceuticals Inc. acquired rights from Envisia Therapeutics Inc. to use its drug delivery platform Print in ophthalmology along with certain other assets.

The company also bought intellectual property rights to Envisia's preclinical drug candidate ENV1105 for treatment of diabetic macular edema, a condition which causes visual loss among diabetics.

Under the agreement, Aerie will initially pay Envisia $25 million in cash and Aerie common stock, with potential additional payments based on achievement of certain product approval milestones.

The Print technology will provide Aerie with a flexible and scalable manufacturing platform to help facilitate clinical trials for its drug candidate AR-13154, expected to be initiated within the next 18 to 24 months, said Aerie Chairman and CEO Vicente Anido Jr.