Jerini Ophthalmic and PR Pharmaceuticals Sign Collaboration Development Agreement
News Apr 11, 2008
Jerini AG and PR Pharmaceuticals have announced a license and development agreement between Jerini Ophthalmic, Inc. (JOI), a wholly-owned and independently operated US subsidiary of Jerini AG, and PR Pharmaceuticals (PRP).
The collaboration agreement focuses on the development of sustained-release formulations (SRFs) for a range of ophthalmic indications, including JOI's lead drug candidates for the treatment of age-related macular degeneration (AMD): JSM 6427, an integrin antagonist, and JPE 1375, an inhibitor of the complement cascade.
Under the terms of the agreement, JOI will pay an undisclosed upfront payment along with milestone payments for the achievement of preclinical and clinical goals and royalties on eventual product sales. In return, PRP agrees to cooperate exclusively with JOI on specified ophthalmic targets and to provide the company with all sustained-release formulations developed through the collaboration agreement.
"Our collaboration with PRP will allow us to leverage our ophthalmic drug development expertise with PRP's proven drug delivery platform and formulation resources, enhancing our ability to move our compounds from feasibility to commercial products. Developing new agents and treatment paradigms for AMD is essential, and our ophthalmic compounds offer novel therapeutic potential to address this debilitating disease," said David Shima, Chief Scientific Officer at JOI.
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