Alimera acquires US commercialization rights for Yutiq from EyePoint
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Key takeaways:
- Alimera acquired the U.S. commercialization rights for Yutiq from EyePoint.
- Alimera has exclusive global rights to Yutiq outside of China, Hong Kong, Taiwan, Macau, South Korea and Southeast Asia.
Alimera Sciences acquired the U.S. commercialization rights for Yutiq, a treatment for chronic noninfectious uveitis affecting the posterior segment, from EyePoint Pharmaceuticals, according to a press release.
“This acquisition allows EyePoint to focus on EYP-1901, a potentially multibillion-dollar drug, and will help advance EyePoint’s clinical pipeline with a large cash runway,” Nancy Lurker, CEO of EyePoint, told Healio/OSN. “The potential for EYP-1901 will mean ophthalmologists will have better treatment options to potentially work alongside other drugs and have the ability to customize treatments for patients.”
Alimera paid $75 million upfront in cash to EyePoint and will make equal quarterly payments totaling $7.5 million in 2024. Additionally, EyePoint will receive potential royalties from 2025 to 2028 “based on combined net revenues in the U.S. from Iluvien and Yutiq in excess of certain thresholds, beginning at $70 million in 2025 and increasing annually thereafter,” according to the release.
“We are very excited to add the Yutiq brand to our portfolio and are very optimistic about its future growth potential,” Rick Eiswirth, CEO of Alimera, told Healio/OSN. “With the addition of Yutiq, we have an opportunity to treat an additional segment of retina patients. And importantly, this transaction materially strengthens our financial position, allowing us to look for additional products and increase our investment in the retina community moving forward.”
Alimera now has exclusive global rights to Yutiq (fluocinolone acetonide intravitreal insert) 0.18 mg outside of China, Hong Kong, Taiwan, Macau, South Korea and Southeast Asia. EyePoint has a preexisting license with Ocumension Therapeutics in those areas.
Alimera expects to generate more than $100 million in net revenue and $20 million in adjusted earnings before interest, taxes, depreciation and amortization in 2024.
“With the sale of Yutiq, we’ve cleared off $40 million debt, which greatly improves our runway through 2025,” Lurker said. “We are very excited about the future of EyePoint.”
Editor’s note: This article was updated on May 18, 2023, to include comments from Rick Eiswirth and Nancy Lurker.
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