Glaukos drops $6m on Dose Medical’s IOP sensor system

Glaukos (NYSE:GKOS) said today that it acquired Dose Medical‘s intraocular pressure sensor system assets for $5.5 million in cash, plus $9.5 million contingent upon development, clinical and regulatory milestones.

The Dose Medical IOP sensor system includes a micro-invasive ocular implant that captures and stores a glaucoma patient’s short-interval IOP measurements. The system transmits data to the patient’s physician in the hopes of enhancing treatment.

The wireless system uses a rechargeable battery that is designed to allow the sensor to function for multiple years, Glaukos reported.

“This emerging IOP sensor system complements Glaukos’ fundamental strategy to transform glaucoma therapy with micro-scale device and drug-delivery platforms that can ultimately address a full range of disease state severity,” president & CEO Thomas Burns said in prepared remarks. “Although still in an early development phase, the system offers future promise as a 24/7 tool for measuring the effects of glaucoma medical and surgical interventions, monitoring patient therapeutic compliance and managing disease progression. Longer-term, we also see opportunities to build upon the sensor platform with additional diagnostic and IOP management innovations.”

Dose Medical was a wholly-owned subsidiary of Glaukos until 2010, when it was spun-out as a standalone entity.

Also today, Glaukos touted long-term data published in Clinical Opthalmology that showed that 2 of its iStent trabecular micro-bypass stents and 1 topical ocular hypotensive medication achieved a 38% reduction in mean medicated IOP 3 years following surgery in 37 phakic eyes.

The team plans on following patients through 5 years post-operative.

“The 3-year data demonstrate the long-term performance and safety of trabecular bypass stents and topical travoprost in subjects with OAG not controlled on two medications,” lead author Dr. David Chang said. “In addition, our results support the hypothetical synergy of using trabecular stents to increase outflow through the conventional aqueous fluid pathway while also using a prostaglandin analog such as topical travoprost to increase outflow through the uveoscleral, or unconventional, pathway.”

Glaukos’ iStent flagship device won FDA approval in 2012. It is inserted through the trabecular meshwork and into Schlemm’s canal through a small corneal incision made during cataract surgery. The device was designed to restore flow of aqueous fluid through the conventional pathway and reduce IOP.

The San Clemente, Calif.-based company is also seeking FDA approval for 2 versions of its next-gen iStent inject trabecular micro-bypass device – 1 for use with cataract surgery and the other for use in a standalone procedure.

GKOS shares were trading at $44.97 apiece in mid-morning activity, down -6.4%.