HONG KONG, Aug. 25, 2021 /PRNewswire/ -- Beijing time, August 24, 2021, Ocumension Therapeutics announced that it has entered into a product acquisition agreement with a leading global pharmaceutical company Novartis, pursuant to which the Company will acquire all the equity interests in two ophthalmic drugs, Emadine® (Emedastine Difumarate Eye Drops) and Betopic® S (Betaxolol Hydrochloride Eye Drops), in Mainland China and obtain the transfer of the corresponding manufacturing technology. Ocumension's ophthalmic drug pipeline will be expanded to 20 products, with four products already commercialized and five products in phase III clinical trials worldwide, highlighting the value of its ophthalmic innovative drug platform. Through this transaction, Ocumension will also continue to strengthen its cooperation with Novartis in various aspects, such as manufacturing, sales and commercial promotion.
Emadine® (Emedastine Difumarate Eye Drops) is a relatively selective H1 receptor antagonist indicated for the temporary relief of signs and symptoms of allergic conjunctivitis and is a commonly used drug in clinical treatment of allergic conjunctivitis; Betopic® S (Betaxolol Hydrochloride Eye Drops) is a beta-adrenergic receptor blocker that is effective in reducing intraocular internal pressure and is used in the treatment of patients with chronic angular glaucoma and/or ocular hypertension. It can be used alone or in combination with other drugs that reduce intraocular pressure.
Ocumension is a Chinese ophthalmic pharmaceutical platform company dedicated to identifying, developing and commercializing first-in-class or best-in-class ophthalmic therapies. The Company's vision is to provide world-class overall drug solutions to meet the enormous demand for ophthalmic medical care in China. We believe that our ophthalmic pharmaceutical platform with a clear first-mover advantage will enable us to achieve a leading position in the ophthalmic industry in China. Up to now, the Company has 20 types of drug assets in the immediate and posterior segments of the eye and has established a complete ophthalmic drug product pipeline, of which five products have entered phase III clinical trials and the NDA for our core product, OT-401 (fluorescence intravitreal implant), has been accepted by the CDE and is the first new drug in the history of registration in China to be declared for marketing based entirely on real-world research data. On July 10, 2020, Ocumension Therapeutics was listed on the Main Board of The Stock Exchange of Hong Kong Limited, stock code: 01477.
Novartis is a Swiss multinational pharmaceutical company based in Basel, Switzerland. Novartis is reimagining medicine to improve and extend people's lives. As a leading global medicines company, it uses innovative science and digital technologies to create transformative treatments in areas of great medical need. The shares of Novartis are traded on the Swiss Stock Exchange under the stock code "NOVN" and on the New York Stock Exchange under the ticker symbol "NVS". For more information about Novartis, see its website at https://www.novartis.com.