Visiox Pharma, Inc., a privately funded biopharmaceutical company focused on the development and commercialization of ophthalmic drugs to address highly prevalent diseases in need of new treatment options, today announced it has entered into a definitive agreement with Santen Pharmaceutical Co., Ltd. to license OMLONTI (omidenepag isopropyl ophthalmic solution) 0.002%, a New Chemical Entity (NCE) recently approved by the U.S. Food and Drug Administration (FDA).
OMLONTI (omidenepag isopropyl ophthalmic solution) 0.002% is a relatively selective prostaglandin E2 (EP2) receptor agonist, indicated for the reduction of elevated intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension.
Visiox plans to launch OMLONTI in early 2024, followed by once-daily PDP-716 (brimonidine) 0.35%, positioning the company to become a leader in glaucoma, a disease with significant impact on patients.
"We are pleased to add OMLONTI to our innovative pharmaceutical portfolio," said Ryan Bleeks, CEO. "We believe this is a compelling transaction, as it expands our addressable market opportunity enhancing our long-term growth and profitability."
The strategic license provides exclusive rights in the U.S. for product manufacturing and commercialization of OMLONTI.
Santen will receive an equity stake in Visiox as an upfront payment, and remains eligible to receive sales milestone payments, as well as royalties on net sales of OMLONTI in the U.S.