Chengdu Kanghong Pharmaceutical Group, a China-based company, purchased IOPtima, according to a press release.
A $7 million investment into IOPtima began the four-stage transaction, which will continue with Chengdu Kanghong gradually acquiring all of the company’s shares by 2021. Chengdu Kanghong will also be IOPtima’s distributor in China.
IOPtima manufactures the IOPtiMate system for surgically treating glaucoma and is developing laser products and accessories for glaucoma and other ophthalmic diseases. The main ophthalmic product from Chengdu Kanghong is conbercept for wet age-related macular degeneration. “The company plans to use IOPtima as its platform for growing a range of products and activities within ophthalmic surgical devices,” according to the release.