Ocuphire Pharma acquires Opus Genetics
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Key takeaways:
- The combined company will operate under the name Opus Genetics.
- The company will focus on the development of its gene therapy programs for inherited retinal diseases.
Ocuphire Pharma has acquired Opus Genetics in an all-stock transaction, with the aim of expanding its position in the gene therapy space for the treatment of inherited retinal diseases, according to a press release.
The company will operate under the name Opus Genetics and will trade on Nasdaq under the ticker symbol “IRD” beginning Oct. 24.
The company’s most advanced gene therapy candidate, OPGx-LCA5 for the treatment of Leber congenital amaurosis, demonstrated visual improvement in three out of three adult patients with late-stage disease at 6 months in an open-label, dose-escalation phase 1/2 clinical trial.
Other candidates in the pipeline include phentolamine ophthalmic solution 0.75%, under evaluation for presbyopia and dim light vision disturbances after keratorefractive surgery, and “multiple compelling assets from [the combined company’s] adeno-associated virus-based gene therapy portfolio,” the release said.
Opus Genetics will also seek a strategic partner to advance the clinical development of its late-stage diabetic retinopathy program, which includes APX3330 for nonproliferative diabetic retinopathy.
“Opus Genetics has created a compelling pipeline of transformative therapies for patients with inherited retinal diseases, with promising early data. This is an opportunity to advance these treatments quickly, with four major clinical milestones on the horizon in 2025 for the combined company,” George Magrath, MD, CEO of the combined company, said in the release.
As Healio previously reported, the FDA granted rare pediatric disease designation to OPGx-LCA5 in August.
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