Nordic Pharma Completes Acquisition of Visant Medical; Plans to Launch Lacrifill in the US for Dry Eye Disease
Amring Pharmaceuticals, a subsidiary of Nordic Group BV (Nordic Pharma), announced the completion of its acquisition of Visant Medical.
Financial terms of the deal were not disclosed.
The companies say the 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 commercialize Lacrifill in the US.
This acquisition will enhance Nordic Pharma’s impact on the global ophthalmology market starting with the US launch of Lacrifill, the patented therapy for DED. “Visant is thrilled to be joining the Nordic Pharma group,” Vartan Ghazarossian, PhD, Visant co-founder and CEO, said in a company news release. “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 US 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 US,” said Philip Gioia, President of the US team that will launch Lacrifill under the Nordic Pharma brand. “Lacrifill represents an 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 in January 2023 and has an established CPT reimbursement code.
“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," said Richard Lindstrom, MD, Founder and Attending Surgeon Emeritus at Minnesota Eye Consultants. "Lacrifill will provide the eye care professional with a new and attractive option to treat patients with dry eye disease within their practice.”