Bausch licenses atropine formulation for myopia from Eyenovia
Bausch Health has licensed Eyenovia to develop and commercialize an investigational formulation of atropine delivered by Optejet dispenser, according to a press release.
Under the terms of the agreement, Bausch will assume oversight and costs of the phase 3 CHAPERONE clinical trial, which is underway to investigate efficacy of a microdose formulation of atropine to slow myopia progression in pediatric patients, and develop and commercialize the formulation, which is delivered by Eyenovia’s proprietary dispenser technology, in the U.S. and Canada.
A $10 million upfront payment to Eyenovia and potentially $35 million more plus royalties are included in the terms of the agreement, according to the release.
The atropine formulation is potentially a first-in-class topical treatment designed for comfort and ease of use in children, while resulting in low systemic and ocular drug exposure, according to the release.
Eyenovia will continue to develop the Optejet platform for use with other compounds and indications, Sean Ianchulev, MD, MPH, CEO and chief medical officer of Eyenovia, said in the release.