Amring Pharmaceuticals Inc. (Amring), a subsidiary of Nordic Group B.V. (Nordic Pharma), announced today the completion of its acquisition of Visant Medical, Inc. (Visant), a leader in medical technology innovation in dry eye disease (DED). This acquisition unites Nordic Pharma’s pharmaceutical expertise, with Visant’s FDA-cleared hyaluronic acid derivative LACRIFILL canalicular occlusive device, which is intended to temporarily block tear drainage by the occlusion of the canalicular system.
Nordic Pharma will launch and commercialise LACRIFILL in the U.S. and has been chosen because of its focus on Ophthalmology.
This acquisition will enhance Nordic Pharma’s impact on the global ophthalmology market starting with the U.S. launch of LACRIFILL, the patented therapy for DED.
“Visant is thrilled to be joining the Nordic Pharma group,” said Vartan Ghazarossian, PhD, Visant co-founder and CEO. “Our team has been passionate about bringing a truly innovative solution to patients suffering from DED and we are excited to be joining the Nordic Pharma team as we begin our commercialization efforts.”
This is the second branded medical device Nordic Pharma will introduce in the U.S. and is a complementary fit to the lead brand. Following the anticipated 2024 U.S. launch of LACRIFILL, Nordic Pharma intends to seek regulatory approval to make the product available globally.
“We’re ecstatic Visant Medical selected Nordic Pharma as their partner and for the opportunity to introduce LACRIFILL to the ophthalmologists and optometrists treating the over 16 million people diagnosed with DED in the U.S.,” said Philip Gioia, President of the U.S. team that will launch LACRIFILL under the Nordic Pharma brand. “LACRIFILL representsan innovative and elegant form factor to occlude that should become the gold standard for preoperative patient care for those with DED.”
LACRIFILL is indicated for dry eye conditions and provides relief for the symptoms of dry eye. It has received FDA 510(k) clearance and has an established CPT reimbursement code. These benefits make LACRIFILL appealing to both patients and providers.
Richard Lindstrom, MD, dounder and attending surgeon emeritus at Minnesota Eye Consultants said, “LACRIFILL is set to play a useful role in treating patients with the signs and symptoms of dry eye, especially prior to refractive corneal or cataract surgery. LACRIFILL will provide the Eye Care Professional with a new and attractive option to treat patients with Dry Eye Disease within their practice.”
Paul Karpecki, OD, associate professor, University of Pikeville, Kentucky College of Optometry; Kentucky Eye Institute; emphasized the benefits of using LACRIFILL, stating: “A gel, consisting of cross-linked hyaluronic acid represents a significant impact in ocular health in tear conservation. The properties of the hyaluronic acid in a canalicular filler offer unique comfort and effectiveness in managing dry eye symptoms.”
Raymond James & Associates, Inc. served as exclusive financial advisor to Visant Medical, Inc. and Wilson Sonsini Goodrich & Rosati, Professional Corporation served as legal advisor. Mintz, Levin, Cohn, Ferris, Glovsky and Popeo, P.C. served as legal advisor to Amring Pharmaceuticals Inc.