Ocuphire enters global license agreement with Famy for Nyxol development
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Ocuphire Pharma and FamyGen Life Sciences have entered into a global licensing agreement that will allow Famy to fund and commercialize the development of Nyxol eye drops in the U.S. as well as globally, according to a press release.
Viatris, which recently announced that it will acquire Famy and Oyster Point Pharma, has also agreed to commercialize Nyxol following each regulatory approval.
Source: Adobe Stock.
Famy will pay $35 million in cash to Ocuphire up front under the terms of the agreement. Famy will fund the development of Nyxol through all clinical, manufacturing and regulatory activities required for FDA approval of all three Nyxol indications for the reversal of mydriasis, presbyopia and night vision disturbances, including Nyxol+Low-Dose Pilocarpine. The activities will continue to be managed by Ocuphire throughout the process across the U.S., Europe, Japan, India, China and other global markets.
According to the release, Ocuphire will receive tiered double-digit royalties on worldwide net sales of Nyxol through 2040 upon commercialization and is eligible for sales milestone payments at certain annual sales threshold achievements.
“Famy and Ocuphire have been engaging for several months, in a collaborative spirit, to conclude this agreement,” Mina Sooch, MBA, founder and CEO of Ocuphire, said in the release. “This partnership provides a clear pathway to completing development and regulatory activities and executing a successful U.S. and global commercial launch of Nyxol through Viatris.”
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