AbbVie Collaborated with iSTAR Medical to Develop and Commercialize MINIject Device for Glaucoma
Shots:
- iSTAR Medical to receive a $60M up front & will also be eligible to receive an additional fee of ~$475M upon achievement of predetermined milestones if AbbVie exercises its right to acquire iSTAR
- AbbVie will obtain an exclusive right to acquire iSTAR & will lead the development & commercialization of the MINIject device. iSTAR Medical will continue to develop & commercialize MINIject until the (STAR-V) study is finished
- The collaboration will expand AbbVie’s eye care portfolio & provide an additional treatment option for glaucoma patients. Early in 2022, the MINIject device was launched in EU countries after receiving CE marking approval. To facilitate commercialization in the US, iSTAR is now enrolling patients in (STAR-V) US premarket approval study
Ref: PRNewswire | Image: AbbVie
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
