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Merger of Acuity, Froptix, eXegenics creates new ophthalmic pharmaceutical company
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MIAMI — Acuity Pharmaceuticals and Froptix have merged with eXegenics, a publicly traded shell company with no operations, to form Opko Corp., according to a press release. The new company intends to be listed on the American Stock Exchange, the release said.
Opko, based in Miami, will develop and market a variety of pharmaceuticals for ocular disorders. At the time of the merger, Acuity's portfolio included bevasiranib, an RNA interference molecule for age-related macular degeneration, and a novel product for conjunctivitis. Froptix had several preclinical molecules being developed for dry AMD and other disorders, the release said.
Further trials for bevasiranib, which just completed a phase 2 study, will be funded by private equity and eXegenics' cash-on-hand, according to the release. Opko will also seek to develop diagnostic products that complement its ophthalmic drugs, the release said.