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Valeant, EyeGate enter licensing agreement
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Valeant Pharmaceuticals has entered into a licensing agreement with EyeGate Pharmaceuticals regarding the EyeGate II delivery system and EGP-437 combination product candidate for postoperative pain and inflammation, according to a press release from the companies.
Through the agreement, Valeant will have worldwide commercial and manufacturing rights for the EyeGate II delivery system and EGP-437, while EyeGate will maintain development of the delivery system in the U.S. Valeant can develop the system outside of the U.S.
“For the approximately 3 million cataract surgery patients in the U.S. each year, adherence to the postoperative therapeutic regimen is imperative,” Stephen From, president and CEO of EyeGate, said in the release. “As many of these patients are older and may struggle with self-administration of corticosteroid eye drops, we believe that iontophoretic EGP-437 administered by the eye care practitioner will provide a promising new treatment in addressing the needs of this large patient population.”
EyeGate received an upfront cash payment of an undisclosed amount, and it has the potential to receive development-based milestone payments, the release said. The company will also receive royalties from Valeant’s sales of the product.