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EyeGate grants Valeant rights to EGP-437 combination product
EyeGate Pharmaceuticals has signed a licensing agreement with Valeant Pharmaceuticals for rights to the EyeGate II Delivery System and EGP-437 combination product to treat uveitis, according to a company release.
“This licensing agreement provides a significant validation for the EGP-437 combination product and has transformative potential for EyeGate,” Stephen From, president and CEO of EyeGate, said in the release. “Valeant is among the largest and most respected companies in the ophthalmology space, and we are thrilled to be working with them to advance our lead product candidate.”
The exclusive, worldwide agreement grants commercialization and manufacturing rights to Valeant, as well as a right of last negotiation to license the product for indications other than uveitis. EyeGate will develop the combination product for anterior uveitis in the U.S., and Valeant has agreed to fund 100% of the costs associated with product development outside of the U.S., the release said.
Under the agreement, EyeGate will receive an initial cash payment, development-based milestone payments and an FDA approval-based milestone payment, as well as royalties based on net sales and additional milestone payments based on cumulative sales achievements, according to the release.