Alcon, a division of Novartis, has entered into an agreement to acquire Transcend Medical, a California-based company specializing in minimally-invasive surgical devices to treat glaucoma. The financial terms of the transaction were not disclosed. Transcend Medical has recently developed a micro-stent to treat mild to moderate glaucoma. The device, which is implanted just below the surface of the eye, is designed to treat glaucoma by enhancing part of the natural drainage pathways of the eye, with the aim of reducing intraocular pressure (IOP) levels. Transcend Medical has been granted CE Mark approval for the micro-stent in Europe and is awaiting approval for the U.S. from the Food and Drug Administration. More than 60 million people globally are affected by glaucoma.

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