pSivida (NSDQ:PSDV) and Nicox (EPA:COX) said today that the companies are collaborating to develop a sustained-release drug to lower intraocular pressure in people with glaucoma or ocular hypertension.

The deal combines pSivida’s bioerodible sustained-release drug delivery system with Nicox’s nitric oxide-donating compounds.

According to the agreement, pSivida is responsible for initial development activities. Nicox is slated to give the company undisclosed sums for its work developing ocular insert formulation of Nicox’s NO-donating product candidates.

Nicox will also make additional payments for incremental development activities for each product candidate selected by Nicox to progress into development, the companies said. Intellectual property from the collaboration will be jointly-owned and the companies plan to negotiate a separate license deal for any product candidate that they want to commercialize.

“We have strong pre-clinical data demonstrating the IOP lowering effect of our novel stand-alone NO donors, such as our lead NCX 667, and believe that their profile makes them product candidates for potential sustained release delivery,” Michael Bergamini, Nicox’s EVP & chief scientific officer, said in prepared remarks.

“The bioerodible technology in development by pSivida, combined with their proven success in developing sustained delivery devices for the eye, puts them at the forefront of this exciting area.”

“Nicox’s NO-donating research platform has been validated in both pre-clinical and human studies for the reduction of IOP,” pSivida’s president & CEO, Nancy Lurker, added.

“Combining this novel approach to IOP lowering with our bioerodible, sustained delivery device could offer a unique therapy alternative or adjunct to existing therapies to lower IOP in order to help prevent the development and progression of glaucoma.”

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