Okyo Pharma announced that Robert J. Dempsey has been appointed chief executive officer, effective immediately. Gary S. Jacob, PhD, will transition from CEO to chief development officer and will continue to serve on the company’s board of directors.

The company highlighted Mr. Dempsey’s prior role as group vice president and head of global ophthalmology at Shire (prior to its acquisition by Takeda), where he led the commercialization strategy and launch of lifitegrast ophthalmic solution 5% (Xiidra, Bausch + Lomb) and oversaw commercial responsibilities for cyclosporine ophthalmic emulsion 0.05% (Restasis, AbbVie). Okyo also noted his involvement in Shire’s 2019 sale of Xiidra to Novartis, which included $3.4 billion upfront and up to $1.9 billion in potential milestone payments.

Okyo said the leadership transition supports continuity while positioning the company for its next phase of growth, with an emphasis on advancing its lead asset, urcosimod (formerly OK-101), for neuropathic corneal pain and other ocular inflammatory disorders.

According to the company, urcosimod is a lipid-conjugated chemerin peptide agonist targeting the ChemR23 receptor expressed on immune cells involved in ocular inflammation. Okyo reported that urcosimod demonstrated antiinflammatory and pain-reducing activity in preclinical models and showed statistical significance across multiple end points in a prior 240-patient phase 2 dry eye disease trial.¹ The company also reported positive phase 2 data in an 18-patient randomized, placebo-controlled, double-masked trial in neuropathic corneal pain² and said it is planning a larger, multicenter trial expected to begin in the first quarter of 2026. 

The board of directors unanimously approved the leadership change.

References

1. OKYO Pharma Limited. Okyo pharma announces ok-101 successfully achieved statistical significance for both sign and symptom endpoints in its first-in-human phase 2 trial of OK-101 in patients with dry eye disease. Press Release. January 8, 2024. Accessed January 5, 2026. https://okyopharma.com/okyo-pharma-announces-ok-101-successfully-achieved-statistical-significance-for-both-sign-and-symptom-endpoints-in-its-first-in-human-phase-2-trial-of-ok-101-in-patients-with-dry-eye-disease/ 

2. OKYO Pharma Limited. OKYO Pharma unveils strong phase 2 clinical trial results for urcosimod to treat neuropathic corneal pain. Press Release. July 16, 2025. Accessed January 5, 2026. https://okyopharma.com/okyo-pharma-unveils-strong-phase-2-clinical-trial-results-for-urcosimod-to-treat-neuropathic-corneal-pain/