- Betta Pharmaceuticals to develop and commercialize EYP-1901 in China, Hong Kong, Macau and Taiwan; EyePoint retains all global ophthalmic rights for EYP-1901 elsewhere -
- Partnership strengthens 2020 license agreement between EyePoint and Betta affiliate, Equinox Sciences, for vorolanib in all ophthalmic diseases, including diabetic macular edema (DME) -
WATERTOWN, Mass., May 04, 2022 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced the execution of a license agreement with Betta Pharmaceuticals Co. Ltd. (SHE: 300558) to develop and commercialize EYP-1901 in Mainland China, Hong Kong, Macau and Taiwan. This agreement expands the collaboration between EyePoint and Equinox Sciences, LLC, a Betta Pharmaceuticals affiliate, which was established in February 2020. Under the terms of the new agreement between EyePoint and Betta Pharmaceuticals, which were previously contemplated under the February 2020 vorolanib license agreement between EyePoint and Equinox Sciences, Betta Pharmaceuticals receives exclusive rights to develop and commercialize EYP-1901 in China, Hong Kong, Macau and Taiwan (the Territory). EyePoint will retain global ophthalmic rights for EYP-1901 in the rest of the world.
Concurrently, EyePoint and Equinox Sciences have executed an amendment to their February 2020 license agreement, expanding EyePoint’s exclusive rights to develop and commercialize vorolanib, a tyrosine kinase inhibitor, through localized delivery for the treatment of all ophthalmic diseases, including DME, outside of the Territory.
“There has been significant unmet need for treatments like EYP-1901 for patients in China, and this expanded partnership with Betta enables us to accelerate EYP-1901’s clinical development as we build our strategic reach into this critically important region. With Betta’s proven execution in the Chinese market, we are confident they will continue to be a strong partner as we work to bring this potentially best-in-class treatment to patients suffering from serious eye diseases all around the world,” said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. “In addition, we are pleased to have expanded our rights to local delivery of vorolanib for all ophthalmology, including DME, and look forward to exploring the potential of EYP-1901 in this indication in future trials.”
“In both the U.S. and China, wet AMD is a leading cause of blindness, and EyePoint’s sustained intraocular drug delivery technology represents a potentially paradigm-shifting innovation in our efforts to treat this debilitating eye disease,” said Lieming Ding, M.D., Chairman and Chief Executive Officer of Betta Pharmaceuticals. “We are excited to expand our existing partnership with EyePoint and their leading pipeline of retinal-focused medicines, as we work to transform the global standard of care and improve patient lives.”
About Diabetic Macular Edema (DME)
Diabetic macular edema (DME) is a severe sight-threatening complication of diabetic retinopathy that affects nearly 750,000 people in the U.S. and 21 million people globally. This retinal condition is a disease affecting the macula, the part of the retina responsible for central vision, and it associated with blindness when left untreated. The prevalence of DME is expected to increase as the prevalence of diabetes increases, and there remains a significant unmet need for more effective, longer-lasting therapies for people living with DME.
EYP-1901 is being developed as an investigational sustained delivery treatment, initially in wet age-related macular degeneration (wet AMD), combining a bioerodible formulation of EyePoint's proprietary Durasert® delivery technology with vorolanib, a tyrosine kinase inhibitor. Positive interim eight-month safety and efficacy data from the ongoing DAVIO Phase 1 clinical trial of EYP-1901 show no reports of ocular or drug-related systemic SAEs and no dose limiting toxicities with stable visual acuity and OCT. Further, 53% and 41% of eyes did not require any supplemental anti-VEGF injections up to six and nine months, respectively, following a single dose of EYP-1901. Phase 2 clinical trials are planned for wet AMD in Q3 2022 and in diabetic retinopathy in 2H 2022. Vorolanib is licensed to EyePoint exclusively by Equinox Sciences for the localized treatment of all ophthalmic diseases, including diabetic macular edema.
About EyePoint Pharmaceuticals
EyePoint Pharmaceuticals (Nasdaq: EYPT) is a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders. The Company's pipeline leverages its proprietary Durasert® technology for sustained intraocular drug delivery including EYP-1901, an investigational sustained delivery intravitreal anti-VEGF treatment initially targeting wet age-related macular degeneration. The proven Durasert drug delivery platform has been safely administered to thousands of patients' eyes across four U.S. FDA approved products, including YUTIQ® for the treatment of chronic non-infectious uveitis affecting the posterior segment of the eye, which is currently marketed by the Company. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts
EYEPOINT PHARMACEUTICALS SAFE HARBOR STATEMENTS UNDER THE PRIVATE SECURITIES LITIGATION ACT OF 1995: To the extent any statements made in this press release deal with information that is not historical, these are forward-looking statements under the Private Securities Litigation Reform Act of 1995. Such statements include, but are not limited to, statements regarding the use of proceeds for the offering and other statements identified by words such as “will,” “potential,” “could,” “can,” “believe,” “intends,” “continue,” “plans,” “expects,” “anticipates,” “estimates,” “may,” other words of similar meaning or the use of future dates. Forward-looking statements by their nature address matters that are, to different degrees, uncertain. Uncertainties and risks may cause EyePoint’s actual results to be materially different than those expressed in or implied by EyePoint’s forward-looking statements. For EyePoint, this includes stock price volatility and uncertainties relating to the financial markets, the continued impact of the COVID-19 pandemic on EyePoint’s business, the medical community and the global economy, and the impact of general business and economic conditions. More detailed information on these and additional factors that could affect EyePoint’s actual results are described in EyePoint’s filings with the SEC, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2020, as revised or supplemented by its Quarterly Reports on Form 10-Q and other documents filed with the SEC. All forward-looking statements in this news release speak only as of the date of this news release. EyePoint undertakes no obligation to update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
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Source: EyePoint Pharmaceuticals, Inc.