Sun Pharma Advanced Research Company (SPARC) on Wednesday said it has inked a licensing pact with Visiox Pharma LLC for the development and commercialisation of two ophthalmic solutions.
The company has entered into an agreement with Visiox Pharma LLC (Visiox) to grant exclusive worldwide rights (except for India and Greater China) for the development and commercialisation of PDP-716 and SDN-037, SPARC said in a statement.
Under the terms of the licensing agreement, SPARC will be eligible to receive an upfront payment, milestone payments and royalty on sales, in addition to 10 per cent equity in Visiox, it added.
''The collaboration with Visiox allows us to make PDP-716 and SDN-037 available to patients seeking to overcome the challenges associated with the currently marketed formulations of these drugs,'' SPARC CEO Anil Raghavan stated.
Visiox Chairman Michael Derby said: ''We are excited to partner with SPARC to register these important products and commercially launch them so that patients may be able to benefit from them as soon as possible. In Visiox, we look forward to building one of the industry's leading ophthalmics companies.'' PDP-716 is a novel, once daily, ophthalmic suspension of brimonidine tartrate 0.35 per cent while SDN-037 is a novel, twice-a-day, clear, micellar formulation of difluprednate.
(With inputs from PTI)
