EyeGate Pharma licences world rights for EGP 437 to Valeant Pharmaceuticals International

Eyegate Pharmaceuticals, Inc., announced that it has entered into an exclusive, worldwide licensing agreement with a subsidiary of Valeant Pharmaceuticals International, Inc. through which EyeGate has granted Valeant exclusive, worldwide commercial and manufacturing rights to its EyeGate II Delivery System and EGP-437 combination product in the field of uveitis, as well as a right of last negotiation to license the product for other indications.

Under the agreement, EyeGate will receive an upfront cash payment, development-based milestone payments related to the completion of development for the indication of anterior uveitis and an approval-based milestone payment upon receipt of FDA approval of the product. Additionally, the Company would receive royalties based on net sales, as well as additional milestone payments based on the achievement of certain cumulative sales milestones. EyeGate shall be responsible for the development of the product in the U.S. for the indication of anterior uveitis, together with the costs associated therewith. Valeant has the right to develop the product in the field outside of the U.S. and has agreed to fund 100% of any costs associated therewith.

Comment; EyeGate has positive advice from the FDA that the design of its Phase III trial in anterior uveitis, along with previously conducted Phase III studies would be sufficient to support an NDA filing.