Ocumension Therapeutics (HKG: 1477), a biopharmaceutical company based in China, has entered into a strategic partnership with Alcon Laboratories Inc., a global leader in eye care and a subsidiary of Novartis. Under the terms of the agreement, Alcon will provide Ocumension with research and development, manufacturing, and commercialization rights for several of its established products and one clinical-stage candidate within the Chinese market. In exchange, Ocumension will issue 139,159,664 new shares to Alcon, representing a 16.71% equity stake, thereby making Alcon one of Ocumension’s key shareholders. The partnership also includes mutual priority negotiation rights for future pipeline products.
As outlined in the press release, Ocumension is acquiring all rights in China for Alcon’s Tears Natural Forte (dextran, hypromellose, glycerol), Bion Tears (dextran), Alcaine (proparacaine), Fluorescite (fluorescein), and Cyclogyl (cyclopentolate). Following a transition period, Ocumension will take over the manufacturing of these products. Additionally, Ocumension secures commercialization rights in China for Systane Ultra (polyethylene glycol) and development, manufacturing, and commercial rights for AR-15512, an innovative topical drug candidate for dry eye that is currently in development.- Flcube.com
