SPARC licenses PDP-716, SDN-037 drug rights to Visiox Pharma
Mumbai: Sun Pharma Advanced Research Company Ltd. (SPARC) today announced that the company has entered into an agreement with Visiox Pharma LLC (Visiox) to grant exclusive worldwide rights (except for India and Greater China) for the development and commercialization of PDP-716 and SDN-037.
Under the terms of the license agreement, SPARC will be eligible to receive an upfront payment, milestone payments and royalty on sales, in addition to 10% equity* in Visiox.
"We are excited to enter into this collaboration. The collaboration with Visiox allows us to make PDP-716 and SDN-037 available to patients seeking to overcome the challenges associated with the currently marketed formulations of these drugs," said Anil Raghavan, CEO of SPARC.
Michael Derby, Chairman of Visiox, said, "We are excited to partner with SPARC to register these important products and commercially launch them so that patients may be able to benefit from them as soon as possible. In Visiox, we look forward to building one of the industry's leading ophthalmics companies."
PDP-716 is a novel, once daily, ophthalmic suspension of brimonidine tartrate 0.35%. PDP-716 was developed using SPARC's proprietary TearAct technology.
SDN-037 is a novel, twice-a-day, clear, micellar formulation of difluprednate. SDN-037 is a difluprednate ophthalmic solution administered at lower dose (i.e. 0.04% w/v) with a reduced dosing frequency (twice-a-day) compared to the currently commercialized formulation of difluprednate.
Medical Dialogues had earlier reported that SPARC had entered into an agreement with Biomodifying LLC to exclusively license Biomodifying's intellectual property, including all patents and patent applications owned or controlled by Biomodifying, along with antibodies developed for multiple uses including for cancer.
Read also: SPARC, Biomodifying ink antibody licensing agreement
Sun Pharma Advanced Research Company (SPARC) is a clinical stage bio-pharmaceutical company. SPARC was formed in 2007 through a demerger from Sun Pharma, a global leader in speciality generics.
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