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Bausch & Lomb Inc. has acquired an option to license an investigational compound in Phase 2 development for the treatment of dry eye syndrome, the company said.
The compound, MIM-D3, was developed by Montreal-based Mimetogen Pharmaceuticals Inc. It has the potential to be the first in a new class of agents called TrkA agonists, officials of both companies said.
A Phase 3 study is slated to begin before year’s end. If approved, the new technology would dramatically expand Bausch & Lomb’s ability to compete in a $2.5 billion global dry eye market, officials said.
Under the terms of the agreement, Bausch & Lomb will pay Mimetogen an option fee to secure the right to acquire an exclusive global license. Should Bausch & Lomb choose to pursue development based on the Phase 3 study results, the company will assume all development responsibilities and costs, and will pay development milestones, sales milestones and royalty fees to Mimetogen.
Dry eye occurs when the eye does not produce enough tears, or when the tears produced are not of the correct consistency and evaporate too quickly.
Current dry eye therapies work to increase tear production, but do not address tear quality, officials said. MIM-D3 stimulates the production of mucin, which plays a critical role in the protection and overall health of the ocular surface.
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