EyePoint to sell YUTIQ to Alimera Sciences
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EyePoint Pharmaceuticals (NASDAQ:EYPT) entered into a definitive agreement for the sale of YUTIQ (fluocinolone acetonide intravitreal implant) 0.18mg to Alimera Sciences. YUTIQ is a treatment for chronic non-infectious uveitis affecting the posterior segment of the eye.
Under the accord, EyePoint received a $75-million up-front cash payment at closing and will receive an additional $7.5-million in equal quarterly installments in 2024. Under the terms of the agreement, Alimera will receive global rights to YUTIQ outside of China, Hong Kong, Taiwan, Macau and Southeast Asia, where YUTIQ is exclusively licensed to Ocumension Therapeutics, and EyePoint will continue to receive royalties from Ocumension for its YUTIQ sales.
“This transaction completes EyePoint’s transformation into a pure play drug development company focused on advancing and expanding a pipeline of sustained delivery treatments for serious eye diseases, including our lead product candidate EYP-1901, currently in Phase 2 trials in wet age-related macular degeneration and non-proliferative diabetic retinopathy,” Nancy Lurker, CEO of EyePoint, said in a statement.
Alimera currently sells ILUVIEN for the treatment of uveitis in various international markets and for the treatment of diabetic macular edema in the U.S. and internationally.
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