Allergan completes acquisition of nasal implant for dry eye

Allergan finalized a $125 million deal to buy Oculeve and its non-invasive nasal implant designed to stimulate natural tear production in patients with dry eye disease.

The device is inserted into the mucous membrane of the nasal cavity and another inserted under the skin below the eyebrow. Rates of tear delivery are then adjusted manually through a wireless controller.

Oculeve has completed 4 clinical studies of the intranasal device in more than 200 patients. Allergan plans to conduct 2 additional trials prior to FDA submission, which is expected in 2016 with an expected commercial launch in 2017.

The acquisition also includes an earlier-stage, undisclosed dry eye device under development.