MIAMI, Oct. 10 /PRNewswire-FirstCall/ -- OPKO Health Inc. (Amex: OPK) today announced that it has acquired exclusive worldwide rights for ophthalmic uses to a topical clinical stage compound with potential utility in the treatment of dry eye.
"Dry eye is an increasingly common condition that can disrupt the lives of those afflicted. It can cause significant discomfort and interfere with vision and everyday activities," said Sam Reich, Executive Vice President of Ophthalmologics at OPKO. "There is only one FDA approved prescription product currently available for dry eye, and we look forward to moving quickly to develop this product as a new and potentially better treatment option."
The compound, civamide, a proprietary TRPV-1 receptor modulator and neuronal calcium channel blocker, is in Phase III clinical trials in an intranasal formulation to treat various types of pain. Increased tear production was observed in over 50% of the patients receiving civamide, and no systemic side effects were noted. Preliminary evidence suggests that civamide's effects on tear production result from its ability to modify signal transduction pathways present in the human lacrimal gland.
"Acquiring rights to this late stage drug candidate reflects our strategy of proactively seeking new products and businesses to help fuel growth at OPKO," said Phillip Frost, M.D., Chairman and CEO of OPKO Health. "This late stage, topically administered compound with demonstrated safety has the potential to reach the market relatively quickly. It addresses a significant unmet need which creates a sizeable opportunity."
Terms of the agreement were not disclosed.
About Dry Eye
Dry eye syndrome is caused by a variety of c
|SOURCE OPKO Health Inc.|
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