WATERTOWN, Mass., Nov. 05, 2018 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ:EYPT), a specialty biopharmaceutical company committed to developing and commercializing innovative ophthalmic products, and Ocumension Therapeutics today announced an exclusive license agreement for the development and commercialization of EyePoint’s three-year micro insert using the Durasert™ technology for chronic, non-infectious posterior segment uveitis in the greater China territory, which is comprised of China, Hong Kong, Macau and Taiwan. EyePoint received approval for this product by the U. S. Food and Drug Administration (FDA) on October 12, 2018, and will be marketing it in the U.S. under the brand name YUTIQ™.

Under the terms of the agreement, EyePoint will receive a one-time upfront payment of $1.75 million from Ocumension. EyePoint is eligible to receive up to an additional $10.0 million if certain future prespecified development, regulatory and commercial sales and milestones are achieved by Ocumension. In exchange, Ocumension will receive exclusive rights to develop and commercialize the product in the agreed to territories, at its own cost and expense with EyePoint supplying product for clinical trials.

“This agreement with EyePoint allows for the addition of the three-year treatment product using the Durasert technology to our emerging portfolio of therapies for ocular diseases,” said Ye Liu, Chief Executive Officer of Ocumension. “There is a growing need for new treatments for posterior segment uveitis as the current standards of care fail to adequately manage ocular flares, which can lead to blindness if not properly treated. The three-year treatment using the Durasert technology for posterior segment uveitis, represents an innovative, long-lasting and validated therapeutic option for patients suffering with this disease and we are fortunate to partner with EyePoint, a leader in ocular disease drug development.” 

“EyePoint is pleased to expand the global reach of our three-year posterior segment uveitis micro insert using the Durasert technology in a partnership with Ocumension in the greater China territory,” said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. “Our agreement with Ocumension adds another key partner to our growing list of strategic alliances focused on advancing therapies derived from our Durasert technology for the treatment of serious ocular disorders like posterior segment uveitis. As we prepare for our own U.S. launch of YUTIQ™, we look forward to supporting the Ocumension team in their efforts to bring the posterior segment uveitis Durasert technology to patients in Asia.”

source:

https://www.globenewswire.com/news-release/2018/11/05/1645523/0/en/EyePoint-Pharmaceuticals-and-Ocumension-Therapeutics-Sign-Exclusive-License-Agreement-to-Develop-and-Commercialize-Durasert-Three-Year-Treatment-for-Posterior-Segment-Uveitis-in-th.html

（注：本条新闻引自Globe Newswire网站于2018年11月5日发布的新闻，内容仅供参考，所涉言论不代表公司立场）

 (Note: This news is quoted from news release dated November 5^th 2018 in the official website of Globe Newswire. It is for reference only, not representing Ocumension’s position. )