SpyGlass Pharma, Inc. announced on October 1, 2026, that it has acquired 100% of the outstanding equity securities of Advanced Vision Science, Inc. (AVS). The transaction was executed via a Stock Purchase Agreement with Santen Holdings US, Inc. and Santen Pharmaceutical Co., Ltd., and closed on the same day.
The aggregate consideration paid for the acquisition was approximately $13 million in cash. The purchase price is subject to customary post-closing adjustments. Prior to the acquisition, AVS was a wholly owned subsidiary of Santen and served as SpyGlass Pharma’s supplier of intraocular lenses (IOLs) for its clinical trials.
Under the terms of the agreement, AVS will continue to manufacture and supply IOL products under the Eternity brand to Santen, which has been granted an exclusive right to sell these products in Japan. Additionally, AVS has entered into cross-license agreements with Santen to allow both companies to continue operating their respective businesses following the closing.
According to the filing, the acquisition is intended to secure scalable commercial IOL manufacturing capacity for SpyGlass Pharma. This capability is specifically linked to the company’s lead product candidate, the BIM-IOL System, which is currently in Phase 3 clinical trials. SpyGlass Pharma intends to use the acquired manufacturing expertise to accelerate the production of a portfolio of lenses, including premium options like toric and extended depth-of-focus lenses, to fit its drug delivery pads.
Gitkin & Co. served as the financial advisor to SpyGlass Pharma, while Wilson Sonsini Goodrich & Rosati, P.C. provided legal counsel. MTS Health Partners, L.P. advised Santen, and Squire Patton Boggs (US) LLP served as legal counsel for the seller.
