EyeGate Signs Licensing Agreement with Valeant Pharmaceuticals for EGP-437 Combination Product in Uveitis

EyeGate Pharmaceuticals has entered into an exclusive, worldwide licensing agreement with a subsidiary of Valeant Pharmaceuticals International through which EyeGate has granted Valeant exclusive, worldwide commercial and manufacturing rights to its EyeGate II Delivery System and EGP-437 combination product in the field of uveitis, as well as a right of last negotiation to license the product for other indications.

Under the agreement, EyeGate will receive an upfront cash payment, development-based milestone payments related to the completion of development for the indication of anterior uveitis and an approval-based milestone payment upon receipt of FDA approval of the product. In addition, the company would receive royalties based on net sales, and milestone payments based on the achievement of certain cumulative sales milestones. EyeGate will be responsible for the development of the product in the US for the indication of anterior uveitis, together with the costs associated therewith. Valeant has the right to develop the product in the field outside of the US and has agreed to fund 100% of any costs associated therewith.

“This licensing agreement provides a significant validation for the EGP-437 combination product and has transformative potential for EyeGate. Valeant is among the largest and most respected companies in the ophthalmology space, and we are thrilled to be working with them to advance our lead product candidate,” said Stephen From, President and CEO of EyeGate. “We believe that the iontophoretic delivery of EGP-437 via the EyeGate II Delivery System represents a compelling new approach to the treatment of uveitis that could improve patient outcomes through increased adherence.”