OSAKA, Japan and UNION CITY, Calif., June 2 /PRNewswire/ -- Santen Pharmaceutical Co., Ltd. and MacuSight, Inc. today announced that the two companies have entered into a research and development collaboration and license agreement for the Japanese and Asian development and commercialization of sirolimus for the treatment of ocular diseases and conditions including wet age related macular degeneration (wet AMD) and diabetic macular edema (DME). Sirolimus, originally known as rapamycin, is a highly-potent, broad-acting compound that has demonstrated the ability to combat a broad range of diseases and conditions. MacuSight is presently initiating a Phase 2 clinical trial of sirolimus in DME and preparing to initiate a Phase 2 study in wet AMD in the second half of 2008.
Under terms of the agreement, Santen receives rights to develop and commercialize sirolimus for ocular diseases and conditions in Japan and Asia. MacuSight retains development and commercialization rights to sirolimus in all other markets. While specific financial details of the agreement have not been disclosed, Santen has agreed to provide MacuSight with an initial upfront payment of $50 million dollars for funding MacuSight's continuing research and development efforts, as well as clinical development of sirolimus. Additionally, Santen will provide MacuSight with milestone payments and a royalty on future sirolimus sales in the Japanese and Asian markets.
"We believe that this deal represents tremendous validation for our sirolimus development program and signals a critical corporate milestone in the history of MacuSight," stated David A. Weber, Ph.D., president and chief executive officer of MacuSight. "We are thrilled to be able to partner this program with a company of Santen's experience, particularly as it relates to developing and commercializing pharmaceuticals in Japan and Asia. We look forward to a long and productive relationship with our new collaborators."
|SOURCE MacuSight, Inc.; Santen Pharmaceutical Co., Ltd.|
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