Wednesday, September 2, 2009

Visiogen Acquired By Abbott For $400M

Irvine-based Visiogen, a developer of intraocular lens technology for treating cataract patients, is being acquired by Abbott in a deal worth $400M. According to Abbott, it will pay $400M in cash for VisioGen, whose intraocular lens technology addresses presbyopia for cataract patients. VisioGen was venture backed by Novartis Venture Fund, Technology Partners, Three Arch Partners, New Leaf Venture Partners, Prospect Venture Partners, CMEA Ventures and Foundation Medical Partners, and had raised over around $80M in funding. The acquisition is the second in the vision area for Abbott, which bought Irvine's Advanced Medical Optics in February of 2009. AMO's CEO, Jim Mazzo, is now Senior Vice President at Abbott and President of Abbott Medical Optics.