Altacor Broadens Portfolio With Intraocular Lens (IOL) Delivery

CAMBRIDGE, England, April 21, 2011 /PRNewswire/ -- Altacor announces that it has today concluded an exclusive, worldwide licensing agreement with the Swiss based company Ophthalmopharma for its proprietary, preloaded injector for delivery of intraocular lens in cataract and corrective lens replacement surgery (currently known as SOLO(R)). This is the first in a series of transactions between Altacor and Ophthalmopharma in relation to its entire portfolio of ophthalmic products. Under the terms of the agreement, Altacor has assumed responsibility for all aspects of development, IP and commercialisation of the products.

SOLO(R) is pre-loaded single-use intraocular lens (IOL) injector which can be used to deliver both hydrophobic and hydrophilic intraocular lenses (IOL's). It has broad potential applications in cataract surgery and the increasingly performed lens replacement procedures for correction of vision defects. SOLO's design includes a patented novel mechanism which ensures rapid and efficient placement of IOL's, lower risk of contamination, higher comfort to the patient and a low incidence of damaged lenses during insertion.

Dr Fran Crawford, CEO of Altacor welcomed the addition of this product to Altacor's commercial portfolio which is a particularly exciting opportunity in the USA where a growing cataract market and decreasing reimbursement require physicians to constantly seek improvements in efficiency and safety. This is one of a number of corporate transactions that will advance the company towards its strategic goal of becoming a European Specialty Pharma ophthalmology company with growing sales and a strong pipeline.

Dr. Patrik Frei, Chairman of Ophthalmopharma said "I am very happy to have found such a well suited partner for this very interesting product. I firmly believe this to be a complementary product to Altacors' pipeline and I am confident that this will deliver value to both Ophthalmopharma and Altacor."

About Altacor

Altacor is an ophthalmic specialty pharmaceutical company with marketed products and a diverse development pipeline. The products are focused in the following sub therapeutic areas: ocular surface disease, ocular anti-infection and glaucoma. The company differentiates products through, for example, formulation or reprofiling. ALT 005 (surgical) and ALT 020 (ocular anti-infection), ALT 022 glaucoma and ALT 401 for prevention of scarring in glaucoma surgery are examples. Altacor has five products marketed in the UK and Ireland (Clinitas and Clinitas range) which are commercialised through its own sales and marketing organisation and network. Clinitas and Clinitas GEL are prescription products, the former is for moderate dry eye conditions and has a uniquely high concentration of hyaluronic acid (0.4%) in the UK, it is gaining acceptance by clinicians nationwide. The OTC Clinitas range comprises Clinitas Hydrate, Clinitas Soothe and Clinitas Ultra 3 which together address the major causes of dry eye.