Santen Agrees to Licensing Agreements and Asset Transfer for its Pharmaceutical Products in North America

Rhea-AI Summary

Santen Pharmaceutical Co., Ltd. (Santen) has signed licensing agreements with Visiox Pharmaceuticals, Inc. and Harrow Health, Inc. for the out-licensing of OMLONTI® and the transfer of various eye drop products. This includes exclusive rights for product manufacturing, commercialization, and sales in the U.S. and Canada, with potential royalty payments for Santen.

OSAKA, Japan--(BUSINESS WIRE)-- Santen Pharmaceutical Co., Ltd. (hereafter Santen) announced today that it has signed licensing agreements and an asset transfer agreement with two U.S. companies.

Santen has come to an out-licensing agreement with Visiox Pharmaceuticals, Inc. (hereafter Visiox) on the rights to product manufacturing, commercialization, and sales of OMLONTI^®, an eye drop for the reduction of elevated intraocular pressure (IOP) in patients with glaucoma or ocular hypertension. Under the terms of the agreement, Santen grants Visiox exclusive rights in the U.S. for product manufacturing and commercialization of OMLONTI^®. Santen is eligible to receive sales milestone payments, as well as royalties on net U.S. sales of OMLONTI^®.

Santen has also made an asset transfer agreement with Harrow Health, Inc. (Nasdaq: HROW, hereafter Harrow Health) for Flarex^® (an eyedrop for ocular surface Inflammation associated with dry eye), Natacyn^® (an eyedrop for fungal blepharitis, conjunctivitis, and keratitis), TobraDex^® ST (an eyedrop for ocular inflammation with presence of risk of infection), ZERVIATE^® (an eyedrop for ocular itch associated with allergic conjunctivitis), FRESHKOTE^® (an eyedrop for temporary relief of symptoms of dry eye) and an out-licensing agreement on the rights for product manufacturing, commercialization, and sales of Verkazia^® (an eyedrop for vernal keratoconjunctivitis) and Cationorm^® Plus (an artificial tear). Under the terms of the agreement, Santen will sell and transfer Flarex^®, Natacyn^®, TobraDex^® ST, ZERVIATE^®, and FRESHKOTE^® and grant Harrow Health exclusive rights in the U.S. and Canada for product manufacturing and commercialization of Verkazia^®, and exclusive rights in Canada for product manufacturing and commercialization of Cationorm^® Plus. Santen will receive an upfront payment for the asset transfer and the out-licensing and is eligible for royalties on net sales of Verkazia^® and Cationorm^® Plus.

Santen will continue to strive to improve profitability from a company-wide perspective, secure investment in research and development that serves unmet medical needs, and further promote the development of a promising pipeline to maximize its contribution to patients.

About Santen

As a specialized company dedicated to eye health, Santen carries out research, development, marketing, and sales of pharmaceuticals, over-the-counter products, and medical devices, and its products now reach patients in more than 60 countries and regions. Toward realizing “WORLD VISION” (Happiness with Vision), the world Santen ultimately aspires to achieve, as a “Social Innovator”, Santen aims to reduce the social and economic opportunity loss of people around the world caused by eye diseases and defects by orchestrating and mobilizing key technologies and players around the world. With scientific knowledge and organizational capabilities nurtured over a 130-year history, Santen provides products and services to contribute to the well-being of patients, their loved ones and consequently to society. For more information, please visit Santen’s website (https://www.santen.com/en).

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Corporate Communications

Santen Pharmaceutical Co., Ltd.

E-mail: communication@santen.com

Source: Santen Pharmaceutical Co., Ltd.

FAQ

What are the details of Santen's licensing agreements with Visiox Pharmaceuticals, Inc. and Harrow Health, Inc.?

Santen has granted Visiox exclusive rights in the U.S. for product manufacturing and commercialization of OMLONTI®, with potential royalty payments. Additionally, Santen has made an asset transfer agreement with Harrow Health for various eye drop products, including exclusive rights in the U.S. and Canada for product manufacturing and commercialization of some products, with potential royalty payments for Santen.

What products are involved in the licensing agreements?

The products involved in the licensing agreements include OMLONTI®, Flarex®, Natacyn®, TobraDex® ST, ZERVIATE®, FRESHKOTE®, Verkazia®, and Cationorm® Plus.

What are the potential financial benefits for Santen from these agreements?

Santen is eligible to receive sales milestone payments, as well as royalties on net U.S. sales of OMLONTI®. They will also receive an upfront payment for the asset transfer and the out-licensing and are eligible for royalties on net sales of Verkazia® and Cationorm® Plus.