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news.Opko Health has acquired the rights to ophthalmic uses of a topical clinical stage compound with potential utility in the treatment of dry eye. Terms of the agreement, and the name of the company Opko bought the rights from, have not been disclosed.
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The compound, civamide, a proprietary TRPV-1 receptor modulator and neuronal calcium channel blocker, is in Phase III clinical trials in an intranasal formulation to treat various types of pain. Increased tear production was observed in over 50% of the patients receiving civamide, and no systemic side effects were noted. Preliminary evidence suggests that civamide’s effects on tear production result from its ability to modify signal transduction pathways present in the human lacrimal gland.
Sam Reich, executive vice president of ophthalmologics, Opko, said: “There is only one FDA approved prescription product currently available for dry eye, and we look forward to moving quickly to develop this product as a new and potentially better treatment option.”
Phillip Frost, chairman and CEO, Opko, said: “Aquiring rights to this late-stage drug candidate reflects our strategy of proactively seeking new products and businesses to help fuel growth at Opko. This late stage, topically administered compound with demonstrated safety has the potential to reach the market relatively quickly. It addresses a significant unmet need which creates a sizeable opportunity.”
Financial details were not disclosed.