BioCentury
ARTICLE | Company News

Opko, Optos deal

September 26, 2011 7:00 AM UTC

Opko will sell its ophthalmic instrumentation business to Optos' Optos Inc. subsidiary for $17.5 million in cash. Opko shareholders are eligible to receive 2.5-5% royalties on instrumentation sales for up to $22.5 million, beginning two years after the closing date. The deal, which has been approved by the boards of both companies and is subject to approval by Optos' shareholders, is expected to close next quarter. Optos plans to combine Opko's OCT SLO retinal imaging technology with Optos' widefield technology to develop a device to diagnose and manage diseases of the eye. Opko said the deal will allow it to focus on its molecular diagnostic and pharmaceutical pipelines. ...