BioCryst Enters into a License Agreement with Clearside Biomedical for the Development of Avoralstat to Treat Diabetic Macular Edema (DME)
Shots:
- Under the agreement, Clearside will receive an up front license fee of $5M & is eligible to receive up to an additional $30M as clinical & regulatory milestone payments
- Moreover, Clearside is also eligible to receive up to $47.5M in three post-approval sales-based milestone payments if annual global sales of Avoralstat reach $2B, plus three tiers, mid-single digit royalties on annual global net sales incl. a top tier of >$1.5M
- As a result of the partnership, BioCryst could assist patients with DME by using Clearside's SCS Microinjector to administer Avoralstat directly to the back of the eye through the suprachoroidal region, which enables plasma kallikrein inhibition at the site of edema formation
Ref: Globenewswire | Image: BioCryst
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Shivani is a content writer at PharmaShots. She has a keen interest in recent innovations in the life sciences industry. She covers news related to Product approvals, clinical trial results, and updates. She can be contacted at connect@pharmashots.com.
