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Axim, Ora partner on glaucoma, dry eye clinical trials
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AXIM Biotechnologies Inc. announced it has retained the services of Ora Inc. to perform the company’s upcoming product development and clinical trials for treating glaucoma and dry eye utilizing cannabinoid-based therapeutics.
Ora will run the clinical programs under the supervision of Robert Ritch, MD, surgeon director emeritus and chief of glaucoma services at New York Eye and Ear Infirmary of Mount Sinai School of Medicine.
“Despite new product approvals, glaucoma and dry eye remain ophthalmic diseases with significant unmet medical needs,” David A. Hollander, MD, MBA, chief medical officer of Ora, said in a press release. “Approximately 40% of glaucoma patients require more than one IOP-lowering medication. We hope that the development of new treatments with novel mechanisms of action will in turn reduce the risk of progression of visual field loss.”
Global spending on glaucoma management in 2016 was $6 billion, according to the release.
IOP-lowering medications remain the preferred treatment in most cases of glaucoma.
Despite the loss of patent protection for several blockbuster drugs, which has attracted generic competition, the market is ripe for future growth with a number of novel drugs in late-stage development, AXIM stated.