Roche ($RHHBY) announced acquiring privately-held Menlo Park, CA-based ForSight VISION4, a venture capital-backed biotech developing eye drugs delivered via an intravitreal implant called PDS. Both the companies have been collaborating since 2010 for developing long-acting delivery of therapeutics to the eye.
The deal stipulates the payment of upfront amount by Roche, which will also make earn-out payments related to the achievement of development and commercial milestones. Specific financial terms of the deal have not been disclosed by the concerned parties. Roche ($RHHBY) stock has lost nearly 8% of its value in the past one year. However, it gained over 7% in the past one month, showing the signs of recovery.