Ocular Therapeutix, AffaMed enter development, commercialization agreement in Asia
Ocular Therapeutix and AffaMed Therapeutics have entered an agreement for the development and commercialization of Dextenza and OTX-TIC in areas of Asia, according to a press release.
The agreement entitles Ocular Therapeutix to an upfront $12 million payment, milestone payments and clinical development support payments totaling up to $91 million, and royalties from future sales, the release said.
AffaMed receives the right to develop and market Dextenza (dexamethasone ophthalmic insert 0.4 mg), which is approved in the U.S. for postsurgical ocular inflammation and pain, and OTX-TIC (travoprost implant), which is under development for reduction of IOP, in China, South Korea and the ASEAN markets.
“AffaMed shares our vision of developing and commercializing innovative ophthalmology products, and we look forward to leveraging their strength and reputation in Asia to bring our innovative therapies to these global markets,” Antony Mattessich, president and CEO, Ocular Therapeutix, said in the release.
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