SPARC signs licensing deal with Visiox for two ophthalmic drug candidates
Sun Pharma Advanced Research Company (SPARC) has signed a licensing agreement with Visiox Pharma to award exclusive worldwide rights (except for India and Greater China) for developing and commercializing its ophthalmic drug candidates — PDP-716 and SDN-037.
As per the terms of the licensing deal, Sun Pharma Advanced Research Company will be entitled to get an upfront payment, milestone payments, and sales royalties.
Besides, the Indian pharma company will have the right to acquire a 10% stake in Visiox Pharma, which is a new firm created by TardiMed Sciences for focusing on ophthalmology care. The stake acquisition will be subject to the required approvals.
Michael Derby — Chairman of Visiox Pharma said: “We are excited to partner with SPARC to register these important products and commercially launch them so that patients may be able to benefit from them as soon as possible. In Visiox, we look forward to building one of the industry’s leading ophthalmics companies.”
PDP-716 is an ophthalmic suspension of brimonidine tartrate 0.35%, which is intended to be used daily once. It was developed using the proprietary TearAct technology of Sun Pharma Advanced Research Company.
On the other hand, SDN-037 is said to be a clear, micellar formulation of difluprednate, which is intended to be used twice a day.
According to Sun Pharma Advanced Research Company, SDN-037 is a difluprednate ophthalmic solution to be given at a lower dose of 0.04% w/v with a reduced dosing frequency, compared to the prevailing commercialized formulation of difluprednate.
Anil Raghavan — CEO of Sun Pharma Advanced Research Company said: “We are excited to enter into this collaboration. The collaboration with Visiox allows us to make PDP-716 and SDN-037 available to patients seeking to overcome the challenges associated with the currently marketed formulations of these drugs.”
Earlier this month, Sun Pharma Advanced Research Company had signed an agreement with Biomodifying for the exclusive licensing of the latter’s intellectual property (IP).