BOSTON, April 6, 2017 /PRNewswire/ -- Lµbris BioPharma announced today that Novartis has exercised an option to in-license ECF843, Lµbris' proprietary recombinant human lubricin for ophthalmic indications worldwide (outside Europe) including the treatment of dry eye. The closing of the deal is subject to customary closing conditions including regulatory approvals. Lµbris retains rights to commercialize products outside of ophthalmology. Financial terms were not disclosed.
"We are very excited to partner with Novartis, the world's leading pharmaceutical company to bring our recombinant human lubricin to patients in need of new treatment options for ophthalmic diseases like dry eye," said Edward R. Truitt, III, Lµbris' CEO. In a recent clinical trial, ECF843 demonstrated statistically significant improvements in multiple signs and symptoms of dry eye disease with no adverse events and rapid onset of action.
Lubricin is an endogenous human protein which functions as an anti-adhesive, anti-inflammatory, biologic lubricant. Its general role in the body is to protect tissue surfaces from damage and degradation resulting from normal friction and wear. However, as a result of age, autoimmune disease and/or injury the normal production of lubricin can become compromised resulting in damage to tissues like the cornea and cartilage leading to diseases like dry eye and osteoarthritis.
"Lubricin has the potential to help millions of patients across multiple indications," said Harry Barnett, Lµbris' Executive Chairman. "The Novartis in-license represents a significant achievement for Lµbris as we continue to execute on our strategy for bringing this protein to market in multiple therapeutic areas including dry eye, xerostomia, osteoarthritis, and other age and inflammation-related conditions."
About Lµbris BioPharma
Lµbris BioPharma is a privately held development-stage life science company producing and commercializing a recombinant version of the human protein, Lubricin. Lubricin is expressed in numerous parts of the human body and plays an important role in protecting surfaces from damage and wear. Key opinion leaders and clinicians worldwide are focusing their research efforts on using lubricin to improve the lives of millions of people with a host of unmet medical needs including dry eye, osteoarthritis, rheumatoid arthritis, post-surgical adhesions, xerostomia and interstitial cystitis. You can learn more at www.lubris.net.
SOURCE Lubris BioPharma