OSI and PR Pharmaceuticals to co-develop Macugen

Macugen (pegaptanib sodium injection) is a novel treatment for neovascular age-related macular degeneration (AMD). The drug was acquired by OSI late last year as part of its purchase of the pharmaceutical company Eyetech. Prior to the takeover the deal was delayed by the study results of rival company, Genentech, who had promising data supporting the use of its own AMD drug Lucentis.

It appears OSI is attempting to accelerate the development of Macugen by enlisting the help of PR Pharmaceuticals. OSI will now have the benefit of PR’s proprietary prophase encapsulation technology for use with Macugen.

The agreement gives OSI and its development and marketing partner Pfizer access to a proprietary method for encapsulating Macugen for use in ophthalmology. PR Pharmaceuticals is responsible for developing the formulations and manufacturing the test article for non-clinical and clinical trials. OSI, through its eye disease unit, Eyetech, is responsible for clinical development activities and has the right to manufacture and commercialize any resulting product.

PR Pharmaceuticals received an undisclosed upfront payment from (OSI) Eyetech and also will receive payments for achieving certain milestones and royalties on net sales of any products resulting from the collaboration. OSI will reimburse PR for efforts carried out in support of the collaboration.

“This collaboration brings together the scientific and technical expertise to develop a sustained release formulation of Macugen, our breakthrough medicine for neovascular AMD,” said Dr David Guyer, CEO of (OSI) Eyetech and executive vice president of OSI Pharmaceuticals. “Dosing convenience is important for retina specialists and patients who are fighting age-related blindness.”