Ocumension Therapeutics (HKG: 1477), a specialist in the ophthalmology sector in China, has announced plans to sell 2,910,501 shares of EyePoint Pharmaceuticals Inc., (NASDAQ: EYPT), representing a 5.96% stake in the US company. The transaction is expected to generate proceeds of USD 56.66 million (HKD 443 million).
EyePoint Pharmaceuticals, established in 2008, is dedicated to the development and commercialization of therapies for serious eye diseases. The company is known for EYP-1901, a continuous intravitreal drug delivery therapy currently undergoing Phase II clinical trials. EyePoint utilizes its proprietary Durasert technology for sustained intraocular administration, which has led to four products being approved by the US FDA and used in thousands of patients. Among these is YUTIQ, a therapy for posterior uveitis that was licensed to Ocumension in 2018 for development in Greater China. YUTIQ received marketing approval in China in June 2022, marking the first innovative drug in the country based on real-world data.- Flcube.com
