Formosa Entered into a License Agreement with Eyenovia to Commercialize APP13007 for Inflammation and Pain Following Ocular Surgery
Shots:
- Formosa will receive $2M within 45 days with half to be paid in cash, and the other in the form of 487,805 shares of Eyenovia’s common stock upon the signing of the agreement, upon the US FDA approval of APP13007, transfer of the NDA to Eyenovia, and first commercial sale of APP13007, ~$4M upon achievement of development milestones and ~$80M in sales milestones
- Eyenovia gets an exclusive US right to distribute and sell APP13007 (clobetasol propionate ophthalmic nanosuspension, 0.05%) for inflammation & pain following ocular surgery. APP13007 is currently under the US FDA’s review with an expected PDUFA date for APP13007 of Mar 2024
- APP13007 was developed using Formosa’s APNT nanoparticle formulation platform. Eyenovia plans to evaluate novel clobetasol formulations in Optejet dispensing platform for dry eye estimated to be a $3.6B market in the US
Ref: Globenewswire | Image: Formosa
Related News:- Formosa and AimMax Report Results of CPN-301 in the P-III Trial for the Treatment of Inflammation and Pain after Cataract Surgery
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Neha is a Senior Editor at PharmaShots. She is passionate and very enthusiastic about recent updates and developments in the life sciences and pharma industry. She covers Biopharma, MedTech, and Digital health segments along with different reports at PharmaShots. She can be contacted at connect@pharmashots.com.
