Eyevance Pharmaceuticals issued the following announcement on Oct. 16.
Acquisition bolsters Eyevance's position as an emerging leader in treating anterior segment and ocular surface conditions
Company executes its 7th strategic transaction in two years
Eyevance Pharmaceuticals, committed to developing and commercializing innovative and impactful ophthalmic products, is pleased to announce the acquisition of TOBRADEX® ST (tobramycin/dexamethasone ophthalmic suspension) 0.3%/0.05% and NATACYN® (natamycin ophthalmic suspension) 5% from Novartis.
"The acquisition of TOBRADEX® ST and NATACYN® further demonstrates Eyevance's commitment and mission to serve the doctors that treat patients' anterior segment and ocular surface conditions," shared Jerry St. Peter, Co-Founder, Chief Executive Officer and Director, Eyevance Pharmaceuticals. "Today's market conditions and broad payer coverage position both products for strong, sustained growth. Our powerful and passionate Eyevance sales force looks forward to increasing awareness, driving growth and increasing accessibility for these 'gold standard' offerings."
TOBRADEX® ST (tobramycin/dexamethasone ophthalmic suspension) 0.3%/0.05%, FDA-approved in the United States, is a fixed-dose topical antibiotic and corticosteroid combination indicated for steroid-responsive inflammatory ocular conditions for which a corticosteroid is indicated and where superficial bacterial ocular infection or a risk of bacterial ocular infection exists.
"Having focused my career on cornea and in particular advanced ocular surface disease, the need for an effective fixed-dose combination of a corticosteroid and antibiotic is critical within my patient population," stated Paul Karpecki, O.D., Director of Cornea at Kentucky Eye Institute in Lexington, Kentucky. "It is exciting to see Eyevance acquire TOBRADEX® ST given the product's prominent legacy treating ocular conditions. My patients suffering from diseases such as blepharitis or conjunctivitis require a combination product and will continue to benefit from Eyevance's commercialization of TOBRADEX® ST."
Eyevance also acquired the global rights to NATACYN®, the first and only FDA-approved ocular antifungal, which is listed on The World Health Organization's (WHO) list of essential medicines. Eyevance is excited by the opportunity to provide a safe and efficacious therapeutic to meet the most important needs of the global health system.
NATACYN® (natamycin ophthalmic suspension) 5% is indicated for the treatment of fungal blepharitis, conjunctivitis, and keratitis caused by susceptible organisms including Fusarium solani keratitis.
"Fungal eye infections are uncommon but can be very serious," commented Francis Mah, M.D., Cornea, External Disease and International Expert on Corneal Infections, Scripps Clinic, La Jolla, California. "While the most common cause of a fungal eye infection is as a result of an eye injury, it is also important to note that patients who have had surgery to replace their corneal endothelium are at higher risk of fungal eye infections. It's nice to see Eyevance acquire NATACYN®, as it is our only FDA-approved, commercially available topical ocular antifungal. Increasing awareness of fungal infections and NATACYN® therapeutic benefits and it's availability continues to be very important to the ophthalmic community."
Since inception in September 2017, Eyevance has acquired or licensed products that treat ocular diseases or conditions that may require an antibiotic, corticosteroid, antihistamine, antibiotic/corticosteroid, tear lubricant, antifungal, or the rare disease/orphan condition of persistent epithelial defects. The widespread ensemble of anterior segment and ocular surface medications assists in driving Eyevance's business strategy.
The acquisition of TOBRADEX® ST and NATACYN® represents the latest milestone in Eyevance's growth strategy, which saw the acquisition or licensing of multiple ophthalmic pharmaceutical products in 2017 and 2018. This includes FLAREX® (fluorometholone acetate ophthalmic suspension) 0.1% from Novartis, ZERVIATE® (cetirizine ophthalmic solution) 0.24% from Nicox Ophthalmics, FRESHKOTE® Preservative-Free (PF) tear lubricant line from Focus Laboratories, 4 additional non-disclosed late stage and FDA approved products; plus, its development stage asset, NEXAGON® from OcuNexus for an orphan condition.
As part of the Company's commercial strategy, Eyevance attended the American Academy of Ophthalmology (AAO) annual meeting in San Francisco, California from October 11-15, 2019 and will be at the American Academy of Optometry (AAOpt) annual meeting in Orlando, Florida from October 23-26, 2019. Interested eye care practitioners are welcome to visit Eyevance at AAOpt Booth #629 to learn more.
Hayfin Capital Management LLP provided debt financing and an equity investment to support the transaction.
For complete product information about TOBRADEX® ST, including important safety information, please visit https://www.accessdata.fda.gov/drugsatfda_docs/label/2009/050818lbl.pdf.
For complete product information about NATACYN®, including important safety information, please visit https://www.accessdata.fda.gov/drugsatfda_docs/label/2008/050514s009lbl.pdf.
About Eyevance Pharmaceuticals
Eyevance Pharmaceuticals is a Fort Worth-based company committed to developing and commercializing innovative and impactful ophthalmic products that enable optimal vision and better quality of life for all patients. Eyevance seeks to establish a portfolio of products that address significant unmet needs, including rare and orphan conditions, while also focusing on products with a legacy of proven safety and efficacy. For more information, visit http://eyevance.com.
Original source can be found here.