Ocular Therapeutix Signs Strategic Collaboration With Regeneron Pharma

(RTTNews) - Ocular Therapeutix, Inc. (OCUL) Thursday announced that it has entered into a strategic collaboration, option and license agreement with Regeneron Pharmaceuticals, Inc. (REGN).

As per the agreement, Ocular and Regeneron will collaborate on the development of a sustained release formulation of the vascular endothelial growth factor trap aflibercept for the treatment of wet age-related macular degeneration and other serious retinal diseases. This formulation is currently in preclinical development. Ocular Therapeutix and Regeneron will develop a sustained release formulation of aflibercept that is suitable for advancement into clinical development. Regeneron has the option to obtain an exclusive license to use Ocular Therapeutix's hydrogel-based technology.

Upon exercising of the option,Ocular Therapeutix would be eligible to receive up to $305 million in milestone payments from Regeneron for a sustained release version of aflibercept containing Ocular Therapeutix's sustained release hydrogel depot. In addition, Ocular Therapeutix is eligible to receive tiered high single-digit to low-to-mid teen-digit royalties on potential future net sales.

Amar Sawhney, president, chief executive officer and chairman of Ocular Therapeutix said, "This sustained release formulation could have the potential to significantly reduce dosing frequency and subsequently reduce doctor visits, thus reducing the burden of care for patients, caregivers and physicians, and may decrease the likelihood of certain side effects associated with frequent intravitreal injections."