Kala Pharmaceuticals Inc (NASDAQ: KALA) recently announced that it entered into a sale agreement with Alcon Inc. The sale agreement stipulates that the company trades its commercial portfolio and intellectually protected products and equipment.
the contract also entails the EYSUVIS, a compound that was approved by the U.S. Food and Drug Administration and INVELTYS that is administered twice each day for patients that undergo surgery.
During the announcement, Mark Iwicki, the CEO of Kala Pharmaceuticals, stated that the sale of the two leading products initiates the execution of its calculated scheme to distribute distinctive treatments that inscribe unique unsuccessful requirements in ophthalmology. Iwicki further stated that Alcon is the suitable partner that the company required to enlarge the extension of its commercial resources.
Details about the partnership and its significance to the parties
The latter company possesses an outstanding portfolio of distributing the best visual management to patients across the globe. Alcon also gains from efficient franchises that undertake ocular illnesses, including surgical care and others. The franchises thus create a strong relationship between the medical physicians and the patients, thus creating awareness of Alcon’s leading products.
Kala also intends to create its unique cell-free secretome treatment that bears the possibility of targeting several severe and uncommon illnesses. The sale agreement further stipulates that after the completion of the disposal of assets, Kala anticipates a substantial decrease in maintenance costs. The proceeds that the company receives following the sale should be remitted in cash, thus expanding its maintenance financial flow into 2024’s second financial quarter.
Kala works on therapies for the eye
The company is a commercialised phase biopharmaceutical institution that aims to identify, create, and commercialise different treatments for any illnesses that affect the eye. Kala authorised using mucus absorbing compound delivery equipment to execute a few ocular therapies.
The institution possesses a talented and skilled team of employees responsible for most of its high-quality products. It also provides a platform for development services to analyse its clinical compound KP1-012. Kala Pharmaceuticals also developed other high-quality products that assist in its quest to treat eye illnesses.
The company also possesses several distinctive chemical substances created to breach the gap with the unmet medical necessities of patients affected with eye illnesses.