New merger to expand access, pipeline and orphan drug programs in eye care
SIFI (Catania, Italy), a specialty ophthalmic pharmaceutical and surgical company, has agreed to merge with Faes Farma (Madrid, Spain), with shareholders selling 100% of the company. The deal will strengthen Faes Farma’s presence in rare diseases and eye care, led by Akantior, while bringing SIFI’s full portfolio of eye drops, intraocular lenses (IOLs) and surgical tools to new markets.
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The merger builds upon Faes Farma’s recent acquisition of Portuguese pharma company Laboratorios Edol, expanding the geographic reach of both entities. The ophthalmology division is now expected to contribute 20% of their total revenue.
Under the new ownership, SIFI’s modern facilities in Aci S. Antonio, Sicily will stay open and continue to grow. These plants handle the production of ophthalmic drugs and IOLs and already have long-term manufacturing contracts in place.
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The merger will aid expansion into important European markets, including Italy, France, Romania and Turkey, while strengthening a foothold in Iberia, Mexico and Latin America. Both firms expect the deal to drive cross-selling opportunities, streamline operations and reduce costs.
“This transaction strengthens our position in ophthalmology, a therapeutic area with significant growth potential, and accelerates our international expansion with direct access to new markets in Europe,” said Eduardo Recoder de la Cuadra, CEO of Faes Farma.
SIFI’s ophthalmic portfolio
At the center of the deal is Akantior (polihexanide 0.08%), the only approved treatment for Acanthamoeba keratitis (AK)—a rare, vision-threatening corneal infection. Approved in the EU and UK, Akantior launched in Germany in October 2024. It is currently in the FDA pre-registration phase and holds orphan drug designation in both the U.S. and Europe.
Additionally, polihexanide, the active ingredient in Akantior, will soon undergo clinical trials for fungal keratitis, thanks to promising preclinical data and secured orphan drug designation in both Europe and the U.S.
Beyond its rare disease focus, SIFI also brings a broad ophthalmic portfolio to the table. Its IOLs include monofocal, toric and preloaded lenses, as well as newer models like WELL Fusion® and EVOLUX®. WELL Fusion blends Mini WELL® and Mini WELL PROXA® optics to offer clearer vision at all distances with minimal side effects. EVOLUX® is designed for extended depth of focus to help patients see at both far and intermediate distances without needing glasses.
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The company also offers a wide range of prescription eye drops, surgical accessories, viscoelastics and topical therapies for dry eye, infection, inflammation and retinal disease.
“[SIFI] is set to become the pillar of the enlarged group’s ambitious strategy in ophthalmology, a therapeutic area where the SIFI brand is synonymous with quality, innovation and long-term commitment,” said SIFI CEO Fabrizio Chines.
Transaction details
The acquisition is taking place at an assumed upfront Enterprise Value equal to a double-digit multiple of SIFI’s 2024 EBITDA. Additional payments, or earn-outs, are tied to SIFI achieving specific regulatory and commercial milestones for Akantior.
The deal should close in the third quarter of 2025, pending the usual regulatory approvals and an extraordinary shareholders’ meeting for Faes Farma, which is planned for July.
Key takeaways
- SIFI is now the eye care engine of Faes Farma to help extend global reach
- Akantior tops the product list as the only approved treatment for AK
- Room to grow in Europe, with stronger support in Iberia and Latin America
- Aci S. Antonio manufacturing sites will scale up to meet growth goals
What’s next?
With the merger finalized, eyes will now turn to the integration phase and upcoming U.S. regulatory developments, particularly the FDA pre-registration of Akantior. As the companies blend their ophthalmic expertise, those watching the industry can expect to see them make more strategic moves that might reshape the eye care space.
Editor’s Note: For more information, read the original SIFI press release here. This content is intended exclusively for healthcare professionals. It is not intended for the general public. Products or therapies discussed may not be registered or approved in all jurisdictions, including Singapore.