--- title: "SpyGlass buys lens maker Advanced Vision Science from Santen for about $13" url: "https://aibio.space/news/spyglass-buys-lens-maker-advanced-vision-science-santen-about-13/" publisher: "aibio.space (Biotech Investor Relations News)" date: "2026-10-01" section: "Mergers" tickers: "NASDAQ:SGP, TSE:4536, NYSE:BLCO" source: "https://www.sec.gov/Archives/edgar/data/1778922/000177892226000049/sgp-20261001.htm" summary: "The cash deal brings in house the company that makes the intraocular lens used in both of SpyGlass's Phase 3 glaucoma trials. The seller, Santen, gets an e" --- By the aibio.space news desk. Sources - [SEC EDGAR: SpyGlass Pharma 8-K](https://www.sec.gov/Archives/edgar/data/1778922/000177892226000049/sgp-20261001.htm) - [SEC EDGAR: SpyGlass Pharma press release (Exhibit 99.1)](https://www.sec.gov/Archives/edgar/data/1778922/000177892226000049/exhibit991-8kprx100126.htm) - [SEC EDGAR: SpyGlass Pharma 10-Q](https://www.sec.gov/Archives/edgar/data/1778922/000177892226000045/sgp-20260630.htm) - [SpyGlass Pharma, Inc. 10-K (2026-03-26): business](https://www.sec.gov/Archives/edgar/data/1778922/000177892226000020/sgp-20251231.htm) - [SpyGlass Pharma, Inc. financial data (SEC XBRL)](https://www.sec.gov/Archives/edgar/data/1778922/000177892226000020/) [SGP](https://aibio.space/companies/spyglass-pharma/) [4536](https://aibio.space/companies/santen-pharmaceutical/) [BLCO](https://aibio.space/companies/bausch-lomb/) 2026-10-01 # SpyGlass buys lens maker Advanced Vision Science from Santen for about $13 million Tickers [SGP](https://aibio.space/companies/spyglass-pharma/)[4536](https://aibio.space/companies/santen-pharmaceutical/)[BLCO](https://aibio.space/companies/bausch-lomb/) The cash deal brings in house the company that makes the intraocular lens used in both of SpyGlass's Phase 3 glaucoma trials. The seller, Santen, gets an exclusive right to sell AVS's Eternity lenses in Japan. ## Key facts - **Companies**: SpyGlass Pharma, Inc. (NASDAQ: SGP), Santen Pharmaceutical Co., Ltd. (TSE: 4536), Bausch & Lomb Corp (NYSE: BLCO) - **News type**: Mergers - **Primary source**: [SEC EDGAR: SpyGlass Pharma 8-K](https://www.sec.gov/Archives/edgar/data/1778922/000177892226000049/sgp-20261001.htm) *Midtown Manhattan and a downtown tower in haze. CC0, via rawpixel. The picture shows the field, not the companies named.* SpyGlass Pharma, Inc. (Nasdaq: [SGP](https://aibio.space/companies/spyglass-pharma/)) acquired all of the outstanding shares of Advanced Vision Science, Inc. (AVS) on October 1, 2026, from Santen Holdings US, Inc. The company entered into a stock purchase agreement with Santen Holdings and its parent, Santen Pharmaceutical Co., Ltd., on the same day, and the closing occurred that day. The purchase price was $13,000,000, subject to customary adjustments. The company says the price was estimated at closing and remains subject to a post-closing adjustment. Santen Pharmaceutical has guaranteed the seller's obligations under the agreement, including its indemnification obligations. AVS was SpyGlass's supplier of intraocular lenses before the deal. The press release says AVS makes the lens used in the company's two Phase 3 registrational trials of the Bimatoprost Drug Pad-IOL System, known as the BIM-IOL System. SpyGlass's chief executive, Patrick Mooney, said the deal "is strategically important as it secures our long-term supply of world class IOLs." ## What SpyGlass receives The BIM-IOL System places drug pads on an intraocular lens implanted during routine cataract surgery. The pads are designed to deliver three years of bimatoprost, a prostaglandin analog that the FDA approved for topical use in 2001, to lower elevated eye pressure in patients with open-angle glaucoma or ocular hypertension. The company has started two registrational Phase 3 trials and continues long-term follow-up of patients in a Phase 1/2 study. AVS has manufactured ophthalmic devices since 1975. Its quality system is certified to ISO 13485, and its facility is registered with the FDA and with Japan's Ministry of Health, Labour and Welfare. AVS's foldable hydrophobic acrylic lens was launched in Japan in July 2008 under the Eternity brand, and Santen markets it there. The lens material is licensed to Bausch + Lomb for its enVista line, and AVS manufactures products for other global lens companies. Mooney also said the deal positions the company to accelerate production of a lens portfolio that could fit its drug delivery pads. ## What the seller keeps AVS keeps its existing commercial commitments. Under an amended and restated supply and distribution agreement entered at the closing, AVS will keep making intraocular lenses under the Eternity brand and supplying them to Santen Pharmaceutical. Santen receives an exclusive right to sell those products in Japan. The two companies also signed cross-license agreements, each granting the other a non-exclusive, non-sublicensable license under certain intellectual property. The release says AVS will keep supplying Santen for sale in Japan, keep licensing its lens material to Bausch + Lomb and keep manufacturing for other lens companies. SpyGlass says it will continue supporting those customers. The filings do not say what share of AVS's output goes to SpyGlass, so the company's supply position relative to those customers cannot be measured from these filings. ## The financial context SpyGlass reported a net loss of $39.9 million for 2025, against $29.2 million for 2024. Cash used in operations was $32.7 million in 2025, compared with $22.0 million in 2024. Year-end 2025 cash and cash equivalents were $96.4 million. The company reported $223.1 million in cash and cash equivalents at June 30, 2026. The $13,000,000 price is small beside that June 30 balance. But the purchase is paid in cash, and the company's operating losses are larger than the price. The press release says the deal maintains "our strategy, focus and existing cash runway," and the filings in these sources do not put a figure on how long that runway lasts. A reader should treat that statement as the company's own claim. ## Advisers and counsel Gitkin & Co. served as financial advisor to SpyGlass, and Wilson Sonsini Goodrich & Rosati, P.C. served as its legal counsel. MTS Health Partners, L.P. served as financial advisor to Santen, and Squire Patton Boggs (US) LLP served as Santen's legal counsel. ## Risks the company names The release's forward-looking statements list the company's ability to manufacture lenses for the BIM-IOL System, delays in production and higher costs as risks. AVS is now a SpyGlass subsidiary, so any production delays or higher costs at AVS sit inside the company. The sources give no integration plan. [Report an error](https://aibio.space/reputation/#correction) ## Companies in this story SGP SpyGlass Pharma, Inc. NASDAQ · United States Open the starter desk 4536 Santen Pharmaceutical Co., Ltd. TSE · Japan Open the starter desk BLCO Bausch & Lomb Corp NYSE · United States Open the starter desk ## More in Mergers Mergers ### [InMed sets November 5 record date for CVRs tied to Mentari merger](https://aibio.space/news/inmed-sets-november-5-record-date-cvrs-tied-mentari-merger/) Oct 27, 2026 Mergers ### [Rallybio declares estimated $82.7 million cash distribution tied to Avenzo merger](https://aibio.space/news/rallybio-declares-estimated-82-7-million-cash-distribution-tied-avenzo/) Oct 26, 2026 Mergers ### [Skye Bioscience files preliminary proxy for its Redx Pharma acquisition](https://aibio.space/news/skye-bioscience-files-preliminary-proxy-redx-pharma-acquisition/) Oct 26, 2026 --- Source page: https://aibio.space/news/spyglass-buys-lens-maker-advanced-vision-science-santen-about-13/. Facts in aibio.space stories are checked against company filings and releases; opinion is labelled. Cite as: aibio.space, "SpyGlass buys lens maker Advanced Vision Science from Santen for about $13", 2026-10-01, https://aibio.space/news/spyglass-buys-lens-maker-advanced-vision-science-santen-about-13/