IVERIC Bio Inc (NASDAQ: ISEE) has announced a global license agreement with DelSiTech Ltd, which will offer Iveric Bio the right to create and market new Zimura formulations using DelSiTech’s silica-based sustained-release tech.
Iveric is looking to create solutions for AMD
The Company is dedicated to creating sustained-release solutions for the management of age-related macular degeneration (AMD) as part of Iveric Bio’s lifecycle extension strategy for Zimura. These technologies may be able to help individuals who are receiving treatment for intermediate AMD and geographic atrophy (GA).
President of Iveric Bio Pravin U Dugel said, “We are thrilled to collaborate with the DelSiTech team on investigating additional sustained release formulations for Zimura with their drug delivery expertise and advanced technology and look forward to evaluating a sustained release formulation in GA and potentially earlier stages of AMD. Previously reported post-hoc analyses from GATHER1 suggest that Zimura may have the potential to impact AMD in early stages before atrophy occurs in patients. We believe Zimura, which is a chemically synthesized RNA aptamer, is amenable to injectable sustained release formulations.”
The agreement underscores Iveric Bio’s commitment to investing in lifecycle efforts for Zimura. The company is delighted about the opportunities to expand Ziimura into the early stages of AMD and permit a next-gen treatment to help GA patients.
Iveric to receive €1.25 million from DelSiTech
CEO of DelSiTech Lasse Leino said, “As a leading developer of long-acting controlled release formulations for small molecules and biological entities, we are excited about collaborating with Iveric Bio on bringing innovative solutions to patients living with AMD. We are inspired by the opportunity to leverage our drug delivery technology to potentially help AMD patients early and improve their treatment experience.”
As per the terms of the agreement, DelSiTech will receive an upfront payment of €1.25 million, including development and marketing milestones and royalties on net sales of licensed products. Besides working with DelSiTech, Iveric Bio is planning to explore Zimura’s potential in the treatment of early stages of AMD by initiating a clinical study evaluating Zimura.