CAMBRIDGE, England, July 26, 2011 /PRNewswire/ --
Altacor has gained exclusive worldwide rights from Ophthalmopharma for their two proprietary therapeutic development products Latanoprost CD and Cyclosporin A Prodrug. These licensing agreements are the last in the series of transactions in which Altacor now assumes full responsibility for the entire Ophthalmopharma portfolio of ophthalmic products covering development, Intellectual Property and commercialisation rights.
Latanoprost CD is a novel, water-soluble and preservative free formulation of latanoprost. The product utilises a proprietary solubilization technology that may result in an enhanced therapeutic profile. Latanoprost is the leading therapy for raised intraocular pressure which can lead to glaucoma.
Cyclosporin A Prodrug is novel, patented and water soluble. It has been selected and developed for the potential of improved tolerability in the treatment of dry eye syndrome, corneal transplantation and uveitis.
Dr Fran Crawford, CEO of Altacor, said, "Both of these development products fit well with our current pipeline, strengthening Altacor's position in our key areas of focus; diseases of the front of the eye and glaucoma. The potential therapeutic profiles from these novel products offer real benefits to patients in these two areas of high medical need. These projects heighten our profile of a low risk, fast to market development pipeline combined with growing sales which underpins our ambitious expansion plans."
Dr Andy Richards, Chairman of Altacor, added, "Ophthalmopharma have made an excellent job of innovating these novel therapies and we are grateful to them for giving us the opportunity to deliver the products to patients and realise their commercial potential. Altacor intends to become a leading European specialist ophthalmology company, and is looking for further product and corporate deals that can secure this vision."
Dr. Patrik Frei, Chairman of Ophthalmopharma, said, "We have been impressed by the approach that Fran and her team at Altacor have adopted in developing their ophthalmology pipeline. I look forward to working with them to achieve their commercialisation plans and I would like to thank the team at Ophthalmopharma for their hard work and their achievements in bringing these products to this stage."
Altacor is an ophthalmic specialty pharmaceutical company with marketed products and has a diverse development pipeline. The products are focused in the following sub therapeutic areas: ocular surface disease, ocular anti-infection and glaucoma.
SOURCE Altacor Ltd