July 1, 2016Array
GCA advised Santen Pharmaceutical Co., Ltd. on its acquisition of InnFocus Inc.
We are pleased to announce that our client, Santen Pharmaceutical Co., Ltd. (TSE:4536 or "Santen"), a leading ophthalmic pharmaceutical company, has entered into a definitive agreement to acquire InnFocus, Inc. ("InnFocus"), a leading developer of innovative medical devices for glaucoma surgery, for $225 million in cash, plus additional performance-based payments upon achievement of certain development, regulatory and commercial milestones. Through this acquisition, Santen will strengthen its glaucoma pipeline and stay at the forefront of innovation in ophthalmology.
Subject to regulatory approvals, the transaction is expected to close in the third quarter of 2016. GCA Savvian acted as the exclusive financial advisor to Santen in connection with this transaction.