Novaliq announced a strategic licensing agreement with AFT Pharmaceuticals for the commercialization of Novaliq's lead product NovaTears in Australia and New Zealand.
NovaTears is Novaliq’s first commercially available ophthalmic product for the treatment of evaporative dry eye disease (DED). In Europe, NovaTears is distributed by URSAPHARM under the brand name EvoTears. Under the terms of the agreement, Novaliq has granted AFT an exclusive license for the commercialization of NovaTears across Australasia. In return for these rights, Novaliq will receive an undisclosed upfront payment and royalties on net sales of NovaTears.
“Novaliq is delighted to collaborate with AFT, a leading and innovative pharmaceutical company with a strong commitment to eye care,” Christian Roesky, PhD, CEO, Novaliq, said in a news release. “NovaTears provides a highly differentiated and clinically validated treatment option that significantly improves the signs and symptoms of evaporative DED and Meibomian gland dysfunction (MGD), highly underserved diseases. We are confident that dry eye patients in Australasia will greatly benefit from the use of NovaTears and our partnership with AFT.”
“AFT is dedicated to bringing innovative products to market that make a real difference to people’s health,” said Hartley Atkinson, MD, CEO, AFT. “The addition of NovaTears to our eye care line will be welcomed by doctors and patients alike. It’s a first-in-class, water-free and preservative-free treatment based on Novaliq’s proprietary EyeSol technology platform. NovaTears supports the lipid layer of the tear film by its ability to quickly spread and be absorbed into the eye. We believe that this feature – combined with its small droplet size – will provide superior benefits to patients with evaporative dry eye disease.”