Visus Therapeutics and Zhaoke Ophthalmology Announce Licensing Agreement to Commercialize Presbyopia Treatment Overseas
Visus Therapeutics Inc. and Zhaoke Ophthalmology Limited (“ZKO”) today announced an exclusive license agreement for the development and commercialization of BRIMOCHOL PF and Carbachol PF in Greater China, South Korea and certain US territories. South East Asia.
According to Visus, BRIMOCHOL PF and Carbachol PF are investigational preservative-free therapeutic products designed to be long-acting, once-daily eye drops to correct near vision loss associated with presbyopia.
Under the terms of the agreement, ZKO will be responsible for the clinical development and regulatory approval of BRIMOCHOL PF and Carbachol PF in the specified territories, and then for product commercialization activities. Visus will receive an upfront payment of $15 million and potentially receive up to $115 million in regulatory, marketing and sales-focused stages. In addition, Visus will earn tiered royalties on future sales of these products in the contracted territories. ZKO will leverage the extensive clinical development experience and plans Visus has in place for its enrolling Phase 3 studies to meet required clinical requirements and bring products to market quickly.
ZKO’s clinical development plans include submitting a new drug application to the China Drug Evaluation Center for CsA ophthalmic gel for short-term dry eye, continuing to enroll patients for the study of phase 3 NVK002 for myopia, as well as the launch of the clinical study in China. for presbyopia corresponding to the ongoing Phase 3 study of BRIMOCHOL PF and Carbachol PF in the United States.
Ben Bergo, co-founder and CEO of Visus Therapeutics, noted that the company exists about the opportunity to work with ZKO.
“Our market research indicates that there is strong demand for a long-acting eye drop that corrects presbyopia in China, and we are excited to collaborate with Zhaoke Ophthalmology to accelerate clinical development and launch our lead candidates in Greater China, South Korea and select Southeast Asian markets,” it said in a statement.
“After extensive analysis of other presbyopia-correcting eye drops in development, Zhaoke Ophthalmology is confident that BRIMOCHOL PF and Carbachol PF have the potential to become best-in-class drugs for the treatment of presbyopia, which is supported unparalleled experience in the ophthalmology category,” said Dr. Li Xiaoyi (Benjamin), Chairman of the Board and CEO of Zhaoke Ophthalmology Limited, in the release. “We will become the first ophthalmic pharmaceutical company in China with innovative drugs in advanced clinical development covering the three main fronts of eye diseases, namely dry eye, myopia and presbyopia.We will continue to expand our pipeline of leading ophthalmic actives to the front and back of the eye and to advance these promising experimental therapeutics to market in Chin e and beyond as quickly as possible. »