Ocuvex Therapeutics, Inc. and Visiox Pharmaceuticals, Inc. have entered into a definitive merger agreement, joining together a portfolio of investigational ophthalmic therapeutics currently in the clinical development stages.
First up: these companies.
We’ll start with Ocuvex Therapeutics.
An early-stage ophthalmic biotechnology company based in New Hyde Park, New York, Ocuvex is developing, acquiring, and commercializing a portfolio of ophthalmic-based pharmaceuticals.
- Key among these: novel therapeutics for glaucoma
Now Visiox.
Founded in 2022 and based in Columbus, Ohio, the privately-funded biopharmaceutical company’s focus also involves developing and commercializing ophthalmic therapeutics for high-prevalent diseases with unmet treatment needs.
Take note: This merger is a major pivot from December 2023, when Visiox originally announced its plans to become a publicly-traded company in Q1 2024 via a special purpose acquisition company (SPAC) deal with PowerUp Acquisition.
Also: Though the company provided no further updates on those plans, it’s safe to say—with this new merger—that’s not in the cards.
Gotcha. Talk about Visiox’s portfolio.
Its lead asset is OMLONTI (omidenepag isopropyl ophthalmic solution) 0.002%.
- What it is: A relatively-selective prostaglandin E2 (EP2) receptor antagonist (the world’s first commercially available) that is indicated for the treatment of elevated intraocular pressure (IOP) reduction in open-angle glaucoma (OAG) or ocular hypertension (OHT).
- Prescription information here
Some background: Visiox acquired the U.S. exclusive rights to OMLONTI in July 2023 from Santen Pharmaceuticals Co. Ltd.
And its clinical status?
The FDA approved the prescription-based eye drop in 2022—following favorable data from 12 clinical studies—as the world’s first commercially available relatively-selective EP2 receptor antagonist.
Nice! So what else is in Visiox’s pipeline?
Two other investigational therapeutics encompassing the company’s portfolio of both new chemical entity (NCE) and 505(b)(2) products:
PDP-716 (brimonidine) 0.35%
- Proposed indication: OAG and OHT
- Dosage: once-daily brimonidine
- The formulation: Developed with the Visiox’s TearAct patented technology
- Uses resin microparticles in a complex suspension and designed to improve dosing frequency and prolong the release of the drug by reducing immediate exposure and providing a slow, consistent, and sustained exposure.
- Anticipated launch: Early 2025
SDN-037 (difluprednate) 0.04%
- Proposed indication: OAG and OHT
- Dosage: twice-daily topical difluprednate corticosteroid
- The formulation: Developed using Visiox’s Tight Junction Modulation (TJM) micellar platform
- Incorporates micelles that modulate TJs to provide a robust post-cataract surgery inflammation control in a clear solution that allows for dosing
- Anticipated launch: Mid-2025
Any specific on Ocuvex’s pipeline?
Not exactly … according to the company, it’s currently finalizing terms to add “several (unnamed) marketed products and development projects to its portfolio.”
Product launches for theses are expected later in 2024 as well through 2026 “and beyond as development projects receive FDA approval,” Ocuvex stated.
In other words: no specifics on these therapeutics.
Gotcha. Let’s talk details on this deal.
Here’s what we know: Once the definitive merger agreement is complete, the companies plan to operate under the Ocuvex name.
As for financial terms: None were given (as of yet).
So why merge?
With Ocuvex’s portfolio in mind, Visiox noted that the merger “is set to position the newly combined entity as an emerging leader in the eye care sector with an exciting portfolio of ophthalmic medicines.”
And for Ocuvex specifically: Visiox’s product portfolio will help in growing “Ocuvex's market presence and accelerate the commercialization of these promising therapeutics,” the companies stated.
Any input on this from the executives?
Visiox CEO Ryan S. Bleeks noted that this deal is “a perfect match.”
"We have reached significant milestones with our products,” he stated, “and Ocuvex is in a great position to take these advancements forward and bring them to market faster and emerge as a future leader in eye care."
Lastly, when is the deal effective?
No word yet, so stay tuned!