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PharmaNova, Altacor to develop ophthalmic products
PharmaNova, Altacor to develop ophthalmic products
Listen to this articlePharmaNova Inc. said it has inked a strategic alliance with England’s Altacor Ltd., an ophthalmology development company, to develop and commercialize a series of prescription ophthalmic products.
The products will be based on PharmaNova’s proprietary nanoparticle technology, NovaSperse. Financial details of the alliance, which was announced this week, were not disclosed.
Under the terms of the deal, PharmaNova will undertake all formulation development, clinical manufacture and scale up, and some preclinical and clinical studies required for product proof of concept, officials said. Altacor would be responsible of commercializing the products to generate licensing income for the alliance.
The firms expect new products, including treatments for glaucoma, dry eye, and certain ocular infections and inflammatory conditions, to result from the collaboration. PharmaNova said global market sizes for such products top $5.6 billion.
“Nanoparticle technology is revolutionizing pharmaceutical formulation and drug delivery sciences and nowhere more so than in creating new opportunities for improved medicines and their delivery to the eye,†said Rodney Brown, president of PharmaNova, in a statement.
The Victor firm’s NovaSperse technology is suited to the field, he said. The alliance with Altacor, the company said, complements and supplements its developing pipeline of NovaSperse-derived opportunities and Altacor’s lead projects already established in eye infections and dry eye conditions.
PharmaNova, which employs 10, is a specialty pharmaceutical firm that addresses low risk, fast-to-market products in areas of medical need. It generates revenue from partnering and licensing strategies with commercialization partners worldwide.
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