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Jerini Ophthalmic, PR Pharmaceuticals enter collaboration to develop sustained-release ophthalmic drugs
BERLIN — Jerini Ophthalmic and PR Pharmaceuticals have entered into a collaboration agreement to license and develop sustained-release formulations for ophthalmic indications, according to a joint press release from the companies.
The agreement will focus primarily on Jerini Ophthalmic's two leading drug candidates — JSM 6427, an integrin antagonist, and JPE 1375, an inhibitor of the complement cascade — for treating age-related macular degeneration, the release said.
Under the terms of the agreement, Jerini Ophthalmic will pay PR Pharmaceuticals an undisclosed initial payment along with milestone payments pending the completion of preclinical and clinical goals, in addition to future product sale royalties.
In return, PR Pharmaceuticals will collaborate exclusively with Jerini Ophthalmic on specified ophthalmic targets and provide the company with all sustained-release formulations developed under the collaboration agreement, according to the release.