Jerini Ophthalmic and PR Pharmaceuticals, Inc. Sign Collaboration Agreement to Develop Sustained-Release Formulations for the Treatment of Eye Diseases
4/10/2008 2:54:41 PM
BERLIN and FORT COLLINS, Colo., April 10, 2008 (PRIME NEWSWIRE) -- Jerini AG (FSE:JI4) and PR Pharmaceuticals announced today a license and development agreement between Jerini Ophthalmic, Inc. (JOI), a wholly-owned and independently operated U.S. subsidiary of Jerini AG, and PR Pharmaceuticals (PRP). The collaboration agreement focuses on the development of sustained-release formulations (SRFs) for a range of ophthalmic indications, including JOI's lead drug candidates for the treatment of age-related macular degeneration (AMD): JSM 6427, an integrin antagonist, and JPE 1375, an inhibitor of the complement cascade. Under the terms of the agreement, JOI will pay an undisclosed upfront payment along with milestone payments for the achievement of preclinical and clinical goals and royalties on eventual product sales. In return, PRP agrees to cooperate exclusively with JOI on specified ophthalmic targets and to provide the company with all sustained-release formulations developed through the collaboration agreement.
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