BVI announced that it acquired the ophthalmic viscoelastic device (OVD) assets from Croma, as the two will combine for an R&D collaboration in the future.
Financial terms of BVI’s acquisition were not disclosed. The pair of companies outlined their forthcoming collaboration as a partnership for additional products that will come to the market in the foreseeable future, according to a news release.
“We searched across the globe to find the highest quality OVDs to complement and expand our portfolio,” BVI president & CEO Shervin Korangy said in the release. “Croma’s track record, innovation, quality and safety in HA production is unparalleled in the industry. This partnership with the Prinz family (founders of Croma) will position BVI to further innovate in this product category for ophthalmology.”
Waltham, Mass.-based BVI will now launch the NuVisc Pro, a cohesive OVD, in Europe with an eye on additional regions once regulatory pathways are completed. NuVisc Pro was developed for cataract surgery to provide surgeons with a combination of HA concentration and high molecular weight.
“We are thrilled about our partnership with BVI,” Croma CCO & co-owner Andreas Prinz said. “We will leverage their expertise in ophthalmology and our expertise in OVD development and production.
“We quickly recognized the scale of global growth opportunities that BVI could bring. The entrepreneurial mindset at BVI is refreshing and different than what we have seen in the ophthalmic marketplace.”