B+L purchases option for dry eye drug license

Bausch + Lomb has acquired an option to license an investigational compound currently in phase 2 development for the treatment of dry eye syndrome, according to a company press release.

The compound, called MIM-D3, developed by Mimetogen Pharmaceuticals Inc., has the potential to be the first in a new class of agents called TrkA agonists, the release said.

MIM-D3 stimulates the production of mucin, which plays a critical role in the protection and overall health of the ocular surface. Mucins are essential for lubrication; the removal of allergens, pathogens and debris; and corneal epithelial healing to reduce ocular surface damage, according to the release.

In addition, MIM-D3 may also have the potential to improve neural function, which may improve corneal sensitivity and integrity, the release said.

Phase 2 study results for MIM-D3 demonstrated that the use of MIM-D3, dosed twice a day, resulted in consistent improvements across multiple dry eye signs and symptoms with no safety or tolerability issues.

A phase 3 study is scheduled to begin before the end of 2013, which will be conducted by Ora Inc., according to the release.

Under the terms of the agreement, Bausch + Lomb will give Mimetogen an upfront payment as an option fee to secure the right to acquire an exclusive global license on set terms triggered by the availability of top line results from a phase 3 study. Should Bausch + Lomb choose to pursue development based on the phase 3 results, the company will assume all development responsibilities and costs and also will pay development milestones, sales milestones and royalty fees to Mimetogen, the release said.