Monday, July 6, 2015

Oculeve Acquired By Allergan For $125M

South San Francisco-based Oculeve, a medical device company developing treatments for dry eye disease, has been acquired by Dublin, California-based Allergan, the two said this morning. The two said Allergan will pay $125M in an upfront payment, plus unspecified earnout, for Oculeve. Oculeve was venture backed by Kleiner Perkins Caufield & Byers, New Enterprise Associates, and Versant Ventures. Oculeve's lead program is a medical device, OD-01, a non-invasive nasal neurostimulation device that increases tear production in patients with dry eye disease.