Mumbai: Lupin's subsidiary VISUfarma has signed an exclusive licensing agreement with US-based Visus Therapeutics to commercialise the eye treatment YUVEZZI across European markets.
The agreement covers the European Union, United Kingdom, Switzerland, Norway and Iceland. VISUfarma will handle regulatory work, marketing, promotion, distribution and sales in these territories.
Deal worth up to €75 million
The total potential consideration before the first commercial sales is up to €75 million.
This includes a €20 million investment in Visus or its parent company through a Simple Agreement for Future Equity instrument. The instrument could give VISUfarma shares after financing or public-listing events.
Lupin may also pay up to €55 million after regulatory and commercial milestones are achieved. The agreement includes royalties linked to net sales and payments when specified sales targets are reached.
The licence will remain valid in each country until 20 years after the product's first commercial sale there. VISUfarma can later renew it for additional five-year periods.
Treatment targets age-related vision loss
YUVEZZI is a once-daily eye drop for adults with presbyopia, a condition that gradually reduces the ability to see nearby objects and begins around the age of 45.
The medicine combines carbachol and brimonidine tartrate. Carbachol makes the pupil smaller to improve close-up focus, while brimonidine helps prevent excessive pupil widening.
The treatment received approval from the US Food and Drug Administration. Tenpoint Therapeutics, the parent company of Visus, is preparing its US commercial launch.
European presence to expand
Lupin Chief Executive Officer Vinita Gupta said the partnership would strengthen the company's vision-care business and support its specialty-care strategy.
She said the addition of YUVEZZI would widen access to differentiated treatments and expand Lupin's presence across European markets.
Tenpoint has already submitted a marketing application in the UK through the regulator's International Recognition Procedure. It also plans regulatory applications in other markets.
Lupin said the agreement could create growth opportunities while strengthening its ophthalmology portfolio and European specialty business.
Disclaimer: This article is based on information disclosed by Lupin in its stock exchange filing and accompanying official press release.
