AbbVie and iSTAR Medical have entered into a strategic alliance to develop and commercialize the MINIject minimally invasive glaucoma surgical device for patients with glaucoma, according to a press release.
Under the terms of the agreement, AbbVie will pay iSTAR a $60 million non-dilutive upfront payment, with iSTAR continuing to develop and commercialize the MINIject until the completion of the STAR-V U.S. premarket approval study. iSTAR will remain an independent company until STAR-V is complete, after which AbbVie will have the right to acquire iSTAR and lead global development and