EyePoint Pharmaceuticals Inc., a biopharmaceutical company committed to developing and commercializing innovative ophthalmic products, and Ocumension Therapeutics, a fast-growing ophthalmology focused pharmaceutical company in China, today announced an exclusive license agreement for the development and commercialization of DEXYCU® (dexamethasone intraocular suspension) 9% for the treatment of post-operative inflammation following ocular surgery in Mainland China, Hong Kong, Macau and Taiwan. DEXYCU is currently marketed by EyePoint in the U.S. EyePoint maintains worldwide development and commercialization rights outside of the territories licensed to Ocumension.
Under the terms of the agreement, EyePoint will receive an upfront payment of $2 million and royalties on product sales by Ocumension. EyePoint is eligible to receive up to an additional $12 million if certain future prespecified development, regulatory and commercial sales milestones are achieved by Ocumension. In exchange, Ocumension will receive exclusive rights to develop and commercialize the product in the agreed upon territories. Eyepoint will also be the exclusive supplier of DEXYCU to Ocumension for clinical use and commercial sale.
“DEXYCU is an important addition to our growing portfolio of ocular disease treatments for patients in the greater China region and continues our strong partnership with EyePoint,” said Ye Liu, Chief Executive Officer of Ocumension. “There is a need for innovation to replace the burdensome steroid eye drop regimen prescribed for post-cataract surgery inflammation which has low patient compliance due to its complex dosing schedule. DEXYCU has the potential to become the new standard of care as a single-dose, sustained release therapeutic option that provides long-lasting benefit for up to 22 days.”