Aldeyra Therapeutics, AbbVie enter option agreement to develop reproxalap
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Aldeyra Therapeutics has entered into an exclusive option agreement with AbbVie for license to develop, manufacture and commercialize reproxalap, the company announced in a press release.
According to Aldeyra, reproxalap is a reactive aldehyde species modulator for potential treatment of dry eye disease, for which it is currently under FDA review, as well as allergic conjunctivitis.
Under the terms of the option agreement, AbbVie may acquire a co-exclusive license to develop, manufacture and commercialize reproxalap in the U.S., as well as exclusive license for the product outside the U.S., the release stated. Upon FDA approval, Aldeyra and AbbVie would share profits and losses for reproxalap in the U.S.
Exercise of the option also will grant AbbVie the right of first negotiation for Aldeyra compounds related to ocular surface disease, as well as the right to review data for any other compounds under the fields of ophthalmology and immunology before data can be shared with a third party.
Editor's note: This article was corrected Nov. 1, 2023, to reflect that AbbVie may acquire the right of first negotiation.
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