Pharma giant Lupin Ltd announced that its wholly-owned subsidiary VISUfarma BV has secured an exclusive licensing deal with Visus Therapeutics Inc to market YUVEZZI, an eye treatment for addressing loss of clear near vision in adults, in designated global markets.
The agreement with Visus Therapeutics Inc, a subsidiary of Tenpoint Therapeutics Holding Ltd, grants VISUfarma exclusive rights for regulatory actions, commercialization, marketing, promotion, distribution, and sale of YUVEZZI (carbachol and brimonidine tartrate ophthalmic solution) 2.75%/0.1% in the EU, the UK, Switzerland, Norway, and Iceland, according to Lupin's regulatory filing.
According to the agreement, Visus will receive a strategic investment from VISUfarma.
Tenpoint and Visus, either separately or together, will also qualify for regulatory and commercial milestone payments, along with tiered royalties based on net sales, it noted.
The company stated that the maximum possible payment under the agreement could reach 75 million euros until the initial commercial sales in the region.
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It consists of a 20 million euro strategic investment in the equity of Visus or its parent company via a SAFE (Simple Agreement for Future Equity) mechanism, granting the right to obtain equity in Visus or its parent upon certain equity financing or public listing occurrences, along with up to 55 million euro in regulatory and commercial milestone payments, the filing stated.
Furthermore, the contract stipulates royalty payments calculated on net sales and milestone payments for achieving designated sales levels in the Licensed Territories, as per the terms of the contract, it stated.
"Following the strategic purchase of VISUfarma, this collaboration enhances our vision care division and broadens our reach in important European markets," stated Lupin CEO Vinita Gupta.
She also mentioned, "The inclusion of YUVEZZI highlights our dedication to expanding access to diverse treatments, enhancing patient results, and strengthening our position in eye care throughout the licensed regions."
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Tenpoint CEO Henric Bjarke stated, "Lupin has robust commercial operations across key European markets, and its specialty ophthalmology subsidiary VISUfarma's established presence in eyecare positions them as an ideal partner. We eagerly anticipate collaborating as we introduce YUVEZZI to Europe."
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The organization stated that YUVEZZI, being the first and only authorized once-daily, dual-agent eye drop for presbyopia, signifies a notable breakthrough in eye care.