Formosa Pharmaceuticals has signed an agreement with Medvisis Switzerland to obtain exclusive rights to market clobetasol propionate ophthalmic suspension (APP13007).
APP13007 is intended for the treatment of post-operative inflammation and pain after ocular surgery.
Its active ingredient, clobetasol propionate is a superpotent corticosteroid and is derived from Formosa Pharma’s unique APNT nanoparticle formulation platform.
The novel formulation enables a convenient dosing regimen of twice daily for 14 days and provides rapid and sustained relief of inflammation and pain, said Formosa.
The advanced treatment was approved by the US Food and Drug Administration (FDA) in March this year and was recently launched in the US in September.
The licensing agreement includes upfront payment and sales milestones, with additional considerations throughout the terms of the agreement.
Formosa Pharmaceuticals president and CEO Erick Co said: “We are pleased to partner with Medvisis, marking our second foothold in Europe. Medvisis’ strong connections with their national regulatory agency and rich KOL network give us great confidence that the Swiss public will benefit from this novel and effective treatment for ocular surgery recovery.”
Medvisis Switzerland CEO Manuel Ackermann said: “We are pleased to provide patients with post-operative inflammation and pain following ocular surgery a new, best-in-class treatment option that leads to faster symptom relief.
“APP13007 is of great value to Swiss patients while it sets the foundation for Medvisis to build a strong portfolio of innovative ophthalmology solutions.”
Based in Taiwan, Formosa is a clinical-stage biopharmaceutical company focused on developing drug candidates in ophthalmology, oncology, and anti-infectives.
According to a recent survey of 100 ophthalmic surgeons in the US, rapid resolution of pain and low incidence of adverse events were identified as key drivers to prescribing APP13007.
In a KOL survey led by Medvisis, ophthalmologists collectively recognised APP13007’s convenient posology and safety profile.
Furthermore, the drug is anticipated to have significant potential in Switzerland, which reports more than 100,000 cataract surgeries, each year.
