Everads Therapy announced that it has signed an option agreement with a large global pharmaceutical company, which will support the potential of its technology to overcome certain risks and side effects associated with current retinal disease treatment options, according to a company news release.
The name of the pharmaceutical company, and the financial terms of the deal, were not disclosed.
Under the terms of the agreement, the pharma company will evaluate Everads’ suprachoroidal delivery system with a number of its pipeline products, according to a mutually-agreed-upon pre-clinical research plan. The pharma company has been given an exclusive option to enter into a license agreement to use Everads’ delivery system in combination with its treatments for specific targets, in exchange for a pre-defined up-front fee, milestone payments, and ongoing royalties.
“With excitement building about the advantages of delivering retinal therapies via the suprachoroidal space, we are very pleased that an important player in the ophthalmology field has elected to evaluate our technology,” Mr. Moshe Weinstein, Everads Therapy’s Executive Chairman and architect of the agreement, said in the news release. “This agreement builds confidence in the potential benefit of our differentiated and superior approach to suprachoroidal drug delivery.”