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According to the agreement terms, the two companies would develop a sustained release formulation of aflibercept, which fits properly for clinical development advancement. Regeneron was given the option to get an exclusive license for use of Ocular's hydrogel-based technology for aflibercept and other biologics development and commercialization. This deal is applicable for ophthalmic indications.
For its part, Ocular would keep all rights to develop its sustained-release hydrogel-based drug delivery platform with all other compounds and molecule pharmaceuticals for other retinal diseases. The company stands to get $10 million payment from Regeneron, while Ocular would take the responsibility of funding development until the first stage.
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The agreement enables Regeneron to take responsibility for any costs involved in the subsequent development and commercialization. Ocular would become eligible to get a maximum of $305 million in milestone payments for a sustained release version. Of this, while a maximum of $155 million would be in the form of development and regulatory milestone payments, $100 million is meant for the first commercial sale and another $50 million in commercial milestone payments.
Aside from these payments, Ocular could get tiered high single-digit to low- to mid-teen-digit royalties on potential future net sales.
Ocular Chairman and CEO Amar Sawhney commented, "This sustained release formulation could have the potential to significantly reduce dosing frequency and subsequently reduce doctor visits, thus reducing the burden of care for patients, caregivers and physicians, and may decrease the likelihood of certain side effects associated with frequent intravitreal injections."
At Time Of Writing ...
- Ocular Therapeutix was up 26.47 percent at $7.98.
- Regeneron was down 0.66 percent at $371.00.
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New research shows the biggest crypto buyers are back. And this time? They could hold for the possibility that Bitcoin will surpass $100,000 in 2024. You don’t want to miss the next massive crypto bull run like we saw in 2020 and 2021. To know exactly what’s going on and what to buy… Get Access To Benzinga’s Best Crypto Research and Investments For Only $1.