pSivida (NSDQ:PSDV) said today that it inked a deal with an unnamed global pharmaceutical company to develop two glaucoma drugs with pSivida’s sustained-release technology.
The partnership includes $750,000 worth of upfront payments for initial development and the potential for $200,000 in additional payments contingent upon subsequent development activities, according to the Watertown, Mass.-based company.
“A key focus for pSivida during 2017 is to expand the number of development collaboration agreements with other drug manufacturers and this is the second such agreement during 2017,” president & CEO Nancy Lurker said in prepared remarks.
“This agreement extends the strong working relationship between the two organizations. Glaucoma is one of the major causes of blindness and many patients are not compliant with administering the commonly prescribed treatment of daily drops. Our proprietary sustained release technology, combined with glaucoma drugs, has the potential to provide new dosing options for patients.”
In July, the company restructured a deal with Alimera Sciences (NSDQ:ALIM) to grant Alimera rights to pSivida’s Durasert three-year treatment for posterior segment uveitis in Europe, the Middle East and Africa.
Alimera, which holds an exclusive license to pSivida’s intravitreal implant, Iluvien, plans to apply for a secondary indication for Iluvien for posterior segment uveitis.
The Durasert product is an injectable, sustained-release drug delivery system that can last for up to 3 years. Administered in an office setting using a needle as small as 25-guage, the micro-insert is 3.5 millimeters in length with a diameter of 0.37 millimeters.
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