Potentia Seals Licensing, Purchase Option Agreements With Alcon

Potentia Pharmaceuticals (Potentia) has entered into licensing and purchase option agreements with Alcon. The agreements provide Alcon with a license to develop Potentia’s leading drug candidate, POT-4, for the treatment of AMD. The agreements also provide for Alcon to acquire the shares of Potentia, if specified development milestones are achieved and if Alcon elects to continue development of POT-4.

Reportedly, Alcon is expected to make upfront payments to Potentia for the initial license and option rights. The agreements also provide for potential future payments to Potentia’s shareholders based on the achievement of multiple clinical and global regulatory approval milestones for several therapeutic indications and on Alcon’s decision to proceed with development.

Additionally, they also provide for sales-based royalty payments to Potentia’s shareholders on any products that are ultimately approved and commercialised. Financial terms were not disclosed.

Sabri Markabi, senior vice president of research and development and CMO at Alcon, said: “There is a body of science supporting the potential for complement inhibitors in the treatment of retinal disease. Although at a very early stage, Potentia has developed the first complement inhibitor for age-related macular degeneration and positioned it for phase II trials and we look forward to carrying development forward with the goal of treating patients with AMD.”