Eyconis launches with plans to develop Ascendis’ ophthalmology assets
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Key takeaways:
- Ascendis Pharma and Frazier Life Sciences have formed and launched Eyconis.
- Eyconis will develop, manufacture and commercialize TransCon ophthalmology assets.
Ascendis Pharma announced the launch of Eyconis, a company formed with the exclusive rights to develop, manufacture and commercialize Ascendis’ TransCon ophthalmology assets, according to a press release.
Eyconis, which Ascendis formed with Frazier Life Sciences, is backed by investors Frazier, RA Capital Management, venBio and HealthQuest Capital, with a commitment of $150 million.
Ascendis has an equity position in Eyconis and will be eligible to receive “development, regulatory and sales milestone payments of up to $248 million, plus single-digit royalties on global net sales of commercialized products, if any,” the release said.
The company will be led by executive chairman Emmett Cunningham, MD, PhD, MPH, senior partner at HealthQuest Capital, and chief operating officer Oliver Boris Stauch, former head of ophthalmology at Ascendis.
“The opportunity for Eyconis is tremendous, given the acknowledged need for improved ophthalmology treatments, particularly in wet age-related macular degeneration, diabetic macular edema, retinal vein occlusion and geographic atrophy,” Cunningham said in the release. “We believe the TransCon technology platform will be the first to achieve long-acting and effective delivery of multiple clinically validated biologics — which together constitute the most commonly used therapies for the major causes of retinal blindness. With the expertise of the Eyconis team and access to TransCon technology, we believe Eyconis is well positioned to develop innovative, best-in-class therapies for retinal disease.”
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