Ranibizumab is a topically active formulation of the anti-VEGF antibody, which utilizes OPKO proprietary drug delivery technology.
OPKO chairman and chief executive officer Dr Frost said presently, ranibizumab is only approved for delivery by intra-vitreal injection.
"We believe the development of a topical VEGF antibody formulation would result in substantial benefits to patients," Dr Frost added.
The technology will initially intend to develop the ranibizumab product to treat diabetic macular edema (DME), but the delivery system will also be studied with other pharmaceutical products to treat DME and other eye diseases, according to OPKO.