Novartis AG Returns Global Eye Drug Rights To ThromboGenics NV
Published: Sep 18, 2017
Leuven, Belgium, 18th September, 2017 - ThromboGenics NV (Euronext Brussels: THR), a biotechnology company developing novel treatments for retinal disorders, with a focus on diabetic eye disease, announced today that it will regain full global rights to JETREA® from Alcon, a Novartis company, based on a mutual agreement that the unique characteristics of JETREA make Thrombogenics a better fit for building a sustainable long-term niche business.
JETREA is the first and only approved pharmacological treatment for symptomatic vitreomacular adhesion (VMA) in the US and vitreomacular traction (VMT) in Europe and elsewhere in the world. First introduced in 2013, JETREA has been approved in 54 countries worldwide, with nearly 30,000 patients being treated in about 20 countries.
Under the terms of the agreement, Alcon and Novartis will work closely with ThromboGenics to ensure continuity and access to JETREA for existing and future customers.
Patrik De Haes, MD, CEO of ThromboGenics nv, said "We are pleased to have reached this agreement with Alcon and Novartis in relation to the non-US rights to JETREA. We intend to take time to evaluate how best to capitalize on the global opportunity that we now have with JETREA. In the near term, it is our key priority to secure the continuity of care by ensuring that patients and physicians have timely access to this unique pharmacological treatment for symptomatic vitreomacular adhesion/ traction (sVMA/VMT). We look forward to working with Novartis during this important transition period."
Dr. De Haes continued, "We are also pleased to welcome Novartis as a shareholder in ThromboGenics as we are developing our pipeline of novel treatments for diabetic eye disease. The significant funds that we have received today will allow ThromboGenics to develop its pipeline of novel disease-modifying drug candidates which are targeting all of the key segments of the diabetic eye disease market."
Under the terms of the agreement, ThromboGenics receives a cash amount of €53.7 million and a forthcoming equity investment of €10 million in ThromboGenics capital.
Following the agreements announced today, ThromboGenics will have over €120 million in cash.
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ThromboGenics is a biopharmaceutical company focused on developing innovative treatments for eye disease, with a focus on diabetic eye disease. The company's pipeline of disease modifying drug candidates is targeting the key segments of the diabetic eye disease market.
ThromboGenics is conducting a Phase IIa clinical trial evaluating multiple doses of THR-409 (ocriplasmin) to induce a total Posterior Vitreous Detachment in patients with Non-Proliferative Diabetic Retinopathy (NPDR).
ThromboGenics is conducting a Phase II clinical study evaluating THR- 317, a PLGF inhibitor for the treatment of diabetic macular edema, as a stand-alone or as a combination therapy with anti-VEGF treatments. In addition, THR-149, a plasma kallikrein inhibitor, which has resulted from research collaboration with Bicycle Therapeutics, and THR-687, an integrin antagonist, which was in-licensed from Galapagos, are in late stage pre-clinical development.
ThromboGenics pioneered a new drug category of pharmacological vitreolysis with JETREA® (ocriplasmin) which is now approved for the treatment of symptomatic vitreomacular traction in 54 countries worldwide. ThromboGenics is headquartered in Leuven, Belgium, and is listed on the NYSE Euronext Brussels exchange under the symbol THR.
More information is available at www.thrombogenics.com
Important information about forward-looking statements
Certain statements in this press release may be considered "forward-looking". Such forward-looking statements are based on current expectations, and, accordingly, entail and are influenced by various risks and uncertainties. The Company therefore cannot provide any assurance that such forward-looking statements will materialize and does not assume an obligation to update or revise any forward-looking statement, whether as a result of new information, future events or any other reason. Additional information concerning risks and uncertainties affecting the business and other factors that could cause actual results to differ materially from any forward-looking statement is contained in the Company's Annual Report. This press release does not constitute an offer or invitation for the sale or purchase of securities or assets of ThromboGenics in any jurisdiction. No securities of ThromboGenics may be offered or sold within the United States without registration under the U.S. Securities Act of 1933, as amended, or in compliance with an exemption therefrom, and in accordance with any applicable U.S. state securities laws.