Aldeyra Therapeutics announced that it has acquired Helio Vision, a privately held biotechnology company. The acquisition adds to Aldeyra's pipeline a Phase 3-ready product candidate for the treatment of proliferative vitreoretinopathy, a serious sight-threatening condition with no approved treatment. ADX-2191 has received Orphan Drug Designation from the FDA. Under the terms of the agreement, Aldeyra has acquired Helio Vision for an upfront payment of approximately $10M in common stock, subject to a six-month lock-up period, and an additional $2.5M payment in common stock two years from the date of closing, subject to certain terms and conditions of the agreement. Helio Vision shareholders will also be eligible to receive up to an additional $12.5M in Aldeyra stock upon achievement of certain regulatory milestones. Eliott and the other co-founders of Helio Vision will continue to work with Aldeyra on ADX-2191 as consultants under the terms of the acquisition.
