Ji Xing Pharmaceuticals has acquired Chinese development and commercialization rights to Oyster Point Pharma’s OC-01 varenicline nasal spray and OC-02 simpinicline nasal spray for the treatment of dry eye disease in a deal that includes a $17.5 million upfront payment and up to $204.8 million in milestone payments and royalties. Earlier this year, Ji Xing acquired Chinese rights to Milestone Pharmaceutical’s etripamil nasal spray for the treatment of paroxysmal supraventricular tachycardia (PSVT).
Oyster Point’s 505(b)(2) NDA for OC-01 for dry eye disease is currently under review by the FDA, which has set a PDUFA goal date of October 17, 2021 for completion of the review. In June 2021, the company announced that it had initiated a Phase 2 trial of OC-01 for the treatment of neurotrophic keratopathy. In 2018, Oyster Point announced positive results from Phase 2b studies of both OC-01 and OC-02; it has since focused only on OC-01.
Oyster Point CEO Jeffrey Nau commented, “This agreement marks an important step toward providing OC-01 varenicline and OC-02 simpinicline nasal sprays to patients living with dry eye disease globally while strengthening our cash position. We look forward to partnering with the team at Ji Xing to develop and potentially commercialize these novel therapies in the licensed regions.”
Ji Xing CEO Joseph Romanelli said, “Stimulating natural tear film production may be a paradigm-changing way to treat dry eye disease, which affects more than 150 million patients in China. We are excited to partner with the Oyster Point team, who are innovative pioneers focused on developing therapeutics for ophthalmic diseases, and bring both OC-01 and OC-02 to China. OC-01 and OC-02 have the potential to offer a compelling alternative to artificial tears and anti-inflammation eye-drops to help ease the disease burden for patients.”
Read the Oyster Point Pharma and Ji Xing Pharmaceuticals press release.
