Allergan buys dry-eye device startup for $125M+

The implant is designed to stimulate natural tear production.--Courtesy of Stanford University

Allergan ($AGN) is acquiring the startup Oculeve for $125 million and a number of undisclosed milestone payments. Oculeve's lead program is a clinical-stage dry-eye implant designed to stimulate natural tear production, which could replace the need for inconvenient lubricating eye drops. "We have roughly four programs in dry eye. We think we have some really interesting ones and ones that maybe perhaps will fall out. We'll go through that over the course of the next month or so," Allergan CEO Brent Saunders said. "But dry eye is something that we're also very committed to, and we're looking at a variety of external innovations as well as our internal programs. And you'll see us very committed to this space for the long term." More from FierceMedicalDevices