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Aerie Pharmaceuticals completes $10M Avizorex Pharma acquisition

Aerie Pharmaceuticals Inc. has completed its acquisition of Avizorex Pharma SL in an all-cash deal worth $10 million.

The Durham, N.C.-based company previously said the acquisition will expand its eye disease product portfolio.

Avizorex's therapy AVX-012 has shown positive results during a phase 2a clinical trial in patients with dry eye disease. The drug acts on the TRPM8 protein, which is believed to play a role in treating dry eye disease, a common condition that occurs when tears are not able to provide adequate lubrication for the eyes.

Aerie also acquired the rights to other compounds that target TRPM8 through the Avizorex deal.