iSTAR Medical to receive a $60M up front & will also be eligible to receive an additional fee of ~$475M upon achievement of predetermined milestones if AbbVie exercises its right to acquire iSTAR
AbbVie will obtain an exclusive right to acquire iSTAR & will lead the development & commercialization of the MINIject device. iSTAR Medical will continue to develop & commercialize MINIject until the (STAR-V) study is finished
The collaboration will expand AbbVie’s eye care portfolio & provide an additional treatment option for glaucoma patients. Early in 2022, the MINIject device was launched in EU countries after receiving CE marking approval. To facilitate commercialization in the US, iSTAR is now enrolling patients in (STAR-V) US premarket approval study
Ref: PRNewswire | Image: AbbVie
