Ocular Therapeutix™ Announces Success in Patent Appeal Brought by Mati Therapeutics, Inc.

Rhea-AI Summary

Ocular Therapeutix announced that the U.S. Court of Appeals for the Federal Circuit upheld the Patent Trial and Appeal Board's (PTAB) ruling declaring Mati Therapeutics’ patent invalid. This ruling affects the patent related to dexamethasone drug delivery systems, previously claimed to be infringed by Ocular's product, DEXTENZA®. CEO Antony Mattessich expressed satisfaction with the ruling, reinforcing Ocular's commitment to protecting its products. The company holds multiple patents for DEXTENZA, expiring between 2030 and 2040, and continues to believe in the invalidity of any further claims from Mati.

Positive

• Court ruling invalidates Mati Therapeutics' patent, enhancing Ocular's market position.
• Ocular Therapeutix strengthens its intellectual property portfolio with multiple patents related to DEXTENZA.

Negative

• None.

The United States Federal Circuit Court of Appeals Affirmed Decision of the Patent Trial and Appeal Board that Mati Therapeutics’ Patent is Invalid

Mati Therapeutics Had Previously Alleged that DEXTENZA® Was Infringing Patent in Question

BEDFORD, Mass.--(BUSINESS WIRE)-- Ocular Therapeutix, Inc. (NASDAQ:OCUL), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today announced that the U.S. Court of Appeals for the Federal Circuit in Washington, D.C., invalidated a patent held by Mati Therapeutics, Inc. (Mati) relating to a drug delivery system containing dexamethasone. This decision affirms the judgment made in June 2020 by the Patent Trial and Appeal Board (PTAB) of the U.S. Patent and Trademark Office after an inter partes review that determined Ocular Therapeutix had proven that all 23 claims of U.S. Patent 9,849,082 B2 (the ‘082 patent), owned by Mati are invalid due to “obviousness”. Mati had previously claimed that Ocular Therapeutix’s first commercial drug product, DEXTENZA®, and its hydrogel platform, had infringed the ‘082 patent.

According to Antony Mattessich, Chief Executive Officer of Ocular Therapeutix, "This court decision validates our strategy to rigorously defend and protect our innovative products, including DEXTENZA. We have long believed that Mati’s patent was invalid. We are pleased that the Federal Circuit Court of Appeals has agreed by affirming the judgment of the PTAB.”

Ocular has licenses to three U.S. patents, patents which have been issued in Australia, Canada, China and Japan, and pending applications in the European Union and India, that cover DEXTENZA, all of which are expected to expire in 2030. Ocular also has multiple pending patent applications with the potential to cover DEXTENZA that, if granted, would be expected to expire between 2036 and 2040.

Mati may seek further review of the recent judgment of the court. Mati also has additional patents that may relate to DEXTENZA or future products that Ocular may develop in the future. However, Ocular continues to believe that Mati’s patents would be non-infringed or subject to one or more claims of invalidity.

About DEXTENZA

DEXTENZA is FDA approved for the treatment of ocular inflammation and pain following ophthalmic surgery and ocular itching associated with allergic conjunctivitis. DEXTENZA is a corticosteroid intracanalicular insert placed in the punctum, a natural opening in the inner portion of the lower eyelid, and into the canaliculus and is designed to deliver dexamethasone to the ocular surface for up to 30 days without preservatives. DEXTENZA resorbs and exits the nasolacrimal system without the need for removal.

Please see full Prescribing and Safety Information at www. DEXTENZA.com.

About Ocular Therapeutix, Inc.

Ocular Therapeutix, Inc. is a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary bioresorbable hydrogel-based formulation technology. Ocular Therapeutix’s first commercial drug product, DEXTENZA®, is an FDA-approved corticosteroid for the treatment of ocular inflammation and pain following ophthalmic surgery and ocular itching associated with allergic conjunctivitis. Ocular Therapeutix’s earlier stage development assets currently in Phase 1 clinical trials include OTX-TKI (axitinib intravitreal implant) for the treatment of wet AMD and other retinal diseases and OTX-TIC (travoprost intracameral implant) for the reduction of intraocular pressure in patients with primary open-angle glaucoma or ocular hypertension. Ocular Therapeutix is currently evaluating OTX-CSI (cyclosporine intracanalicular insert) for the chronic treatment of dry eye disease and OTX-DED (dexamethasone intracanalicular insert) for the short-term treatment of the signs and symptoms of dry eye disease in Phase 2 clinical trials. Ocular Therapeutix's first product, ReSure® Sealant, is an FDA-approved device to prevent wound leaks in corneal incisions following cataract surgery.

Forward Looking Statements

Any statements in this press release about future expectations, plans, and prospects for the Company, including the commercialization of DEXTENZA®, ReSure® Sealant, or any of the Company’s product candidates; the commercial launch of, and the effectiveness of and amounts applicable to reimbursement codes for, DEXTENZA; the conduct of post-approval studies of and compliance with related labeling requirements for DEXTENZA and ReSure Sealant; the development and regulatory status of the Company’s product candidates, such as the Company’s development of and prospects for approvability of OTX-CSI for the chronic treatment of dry eye disease, OTX-DED for the short-term treatment of the signs and symptoms of dry eye disease, OTX-TIC for the treatment of primary open-angle glaucoma or ocular hypertension, and OTX-TKI for the treatment of retinal diseases including wet AMD; the ongoing development of the Company’s extended-delivery hydrogel depot technology; the size of potential markets for our product candidates; the potential utility of any of the Company’s product candidates; the potential benefits and future operations of Company collaborations, including any potential future costs or payments thereunder; projected net product revenue, in-market sales and other financial and operational metrics of DEXTENZA and ReSure Sealant; potential market sizes for indications targeted by the Company’s product candidates, if approved; the expected impact of the COVID-19 pandemic on the Company and its operations; the sufficiency of the Company’s cash resources and other statements containing the words "anticipate," "believe," "estimate," "expect," "intend", "goal," "may", "might," "plan," "predict," "project," "target," "potential," "will," "would," "could," "should," "continue," and similar expressions, constitute forward-looking statements within the meaning of The Private Securities Litigation Reform Act of 1995. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors. Such forward-looking statements involve substantial risks and uncertainties that could cause the Company’s preclinical and clinical development programs, future results, performance or achievements to differ significantly from those expressed or implied by the forward-looking statements. Such risks and uncertainties include, among others, the timing and costs involved in commercializing DEXTENZA, ReSure Sealant or any product candidate that receives regulatory approval, including the conduct of post-approval studies, the ability to successfully develop and commercialize products for the ophthalmology office setting, the ability to retain regulatory approval of DEXTENZA, ReSure Sealant or any product candidate that receives regulatory approval, the ability to maintain and the sufficiency of product, procedure and any other reimbursement codes for DEXTENZA, the initiation, timing, conduct and outcomes of clinical trials, availability of data from clinical trials and expectations for regulatory submissions and approvals, the Company’s ability to enter into and perform its obligations under collaborations and the performance of its collaborators under such collaborations, the Company’s scientific approach and general development progress, the availability or commercial potential of the Company’s product candidates, the Company’s ability to meet supply demands, the Company’s ability to generate its projected net product revenue and in-market sales on the timeline expected, if at all, the sufficiency of cash resources, the Company’s existing indebtedness, the ability of the Company’s creditors to accelerate the maturity of such indebtedness upon the occurrence of certain events of default, the severity and duration of the COVID-19 pandemic including its effect on the Company’s and relevant regulatory authorities’ operations, any additional financing needs and other factors discussed in the “Risk Factors” section contained in the Company’s quarterly and annual reports on file with the Securities and Exchange Commission. In addition, the forward-looking statements included in this press release represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause the Company’s views to change. However, while the Company may elect to update these forward-looking statements at some point in the future, the Company specifically disclaims any obligation to do so, whether as a result of new information, future events or otherwise, except as required by law. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211109006077/en/

Investors

Ocular Therapeutix

Donald Notman

Chief Financial Officer

dnotman@ocutx.com

or

ICR Westwicke

Chris Brinzey, 339-970-2843

Managing Director

chris.brinzey@westwicke.com

Media

Ocular Therapeutix

Scott Corning

Senior Vice President, Commercial

scorning@ocutx.com

Source: Ocular Therapeutix, Inc.

FAQ

What was the recent court decision regarding Ocular Therapeutix and Mati Therapeutics?

The U.S. Court of Appeals upheld the invalidation of Mati Therapeutics' patent related to drug delivery systems containing dexamethasone.

How does the court ruling affect Ocular Therapeutix's DEXTENZA product?

The ruling eliminates claims of patent infringement against DEXTENZA, allowing Ocular to strengthen its market position.

What are the implications of the patent invalidation for Ocular Therapeutix?

This decision validates Ocular's defense strategy and reinforces its proprietary rights over DEXTENZA, potentially enhancing its market share.