TARRYTOWN, N.Y., July 19, 2023 /PRNewswire/ — 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, Chief Executive Officer. “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.
Visiox is a privately funded biopharmaceutical company focused on the development and commercialization of ophthalmic therapeutic candidates to address highly prevalent diseases in need of new treatment options. Each day is an opportunity for us to disrupt and revolutionize the current market to maximize patient and physician satisfaction. As an agile business partner, we will achieve this through a high level of collaboration with all eye care professionals.
PDP-716 (brimonidine) 0.35% is a once daily brimonidine with TearAct™ technology for glaucoma expected to launch in early 2025. TearAct™ is a patented technology that involves the use of resin microparticles in a complex suspension form to improve the dosing frequency from TID to QD, prolonging the release of drug by reducing the immediate exposure and providing a slow, consistent, and sustained exposure. Glaucoma is the second leading cause of blindness in the world, it is estimated that over 3 million Americans have glaucoma but only half of those know they have it.1
SDN-037 (difluprednate) 0.04% is a twice daily topical difluprednate corticosteroid utilizing TJMä (Tight Junction Modulation) micellar platform that involves micelles to modulate the tight junctions (TJs) providing powerful post-surgical control of inflammation in a clear solution enabling convenient dosing with a proven active ingredient. SDN-037 is expected to launch mid-2025. Cataract extraction is the most frequently performed eye surgery in the U.S. It accounts for 70% of all ocular surgeries. 50 million people are projected to have cataracts in the U.S. by 2050.2
1. The Eye Diseases Prevalence Research Group, Arch Ophthalmol. 2004; Prevent Blindness America
2. Ocular Surgery Procedures: Market Scope, 2019
Ryan S. Bleeks
Chief Executive Officer
SOURCE Visiox Pharma