Sun Pharma to acquire Ocular Technologies
Co
to pay $40 m to Auven Therapeutics upfront; deal to help pharma major bolster
its specialty ophthalmic drugs pipeline
India's largest drug maker Sun Pharma
announced it agreed to acquire Ocular Technologies from Auven Therapeutics, a
private equity firm focused on accelerated development of breakthrough drugs.
Sun will pay Auven $40 million upfront,
contingent development milestones and sales milestones, in addition to
royalties on sales of Seciera, a drug used for the treatment of dry eye disease.
Sun is aiming to steadily bolster its
specialty ophthalmic drugs pipeline for the global markets, particularly in the
US. Its existing pipeline drugs for eye care related diseases in the US include
BromSite, DexaSite and Xelpros.
“This
potential acquisition signifies continued momentum in enhancing our global
branded specialty portfolio,” said Dilip Shanghvi, managing director, Sun
Pharma.
Seciera is presently in phase three
confirmatory clinical trials for dry eye disease that affects 16 million people
in the US, according to available data. It is a patented, novel, proprietary
formulation and expected to participate in a market that may reach $5 billion
by 2020.
It is a clear, preservative-free, aqueous
solution. In a completed Phase 2b3 clinical trial in 455 patients, Seciera
demonstrated a rapid onset of action and was well tolerated by the study
population.
Based on the published data in literature,
the efficacy and safety endpoints in these trials compared favourably to other
formulations of cyclosporine A.
“In a
completed Phase 2b3 clinical trial in 455 patients, Seciera demonstrated a
rapid onset of action and was well tolerated by the study population. Based on
the published data in literature, the efficacy and safety endpoints in these
trials compared favourably to other formulations of cyclosporine A” a
company statement said.
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