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Additional milestone payment made from Valeant to EyeGate for EGP-437

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EyeGate Pharmaceuticals has received an additional milestone payment from Valeant Pharmaceuticals for worldwide commercial and manufacturing rights to its EyeGate II delivery system and EGP-437 combination product for uveitis, according to an EyeGate press release.

A total of $32.5 million in payments is possible for development-based and commercial milestones under the license agreement between the two entities.

“Overall, we believe that 2017 could be a transformational year for EyeGate, as we remain on track to submit the NDA for potential FDA approval of EGP-437 in uveitis by the end of the year and are targeting significant milestones in our independent programs evaluating EGP-437 in other indications,” Stephen From, president and CEO of EyeGate, said in the release.