OKLAHOMA CITY, OK and Seattle, May 4, 2015 (GLOBE NEWSWIRE) -- via PRWEB - EyeCRO LLC and NeuMedics Inc., today announced the formation of a collaboration to facilitate development of NM108, a first-in-class small molecule to treat a number of ophthalmic disorders that lead to blindness, including Diabetic Retinopathy. The collaboration grants NeuMedics full access to the MiDROPS™ formulation platform developed by EyeCRO, which can deliver drugs to the front and back of the eye via a topical eyedrop.
Under the terms of the agreement, EyeCRO will receive a tiered single-digit royalty on commercialized products for ophthalmologic indications as well as a number of development and regulatory milestones. In exchange, NeuMedics will receive a license for exclusive rights to formulate their class of molecules utilizing the MiDROPS™ platform.
"We look forward to developing this partnership with NeuMedics to further advance our MiDROPS™ platform into clinical trials", said Rafal Farjo, Ph.D., Chief Operating Officer of EyeCRO. "This patented technology has the potential to deliver therapeutics into diseased tissues of the eye without need for intraocular injection, which provides many safety and cost benefits. We are excited to be involved with NM108, a novel agent in a new therapeutic class of anti-inflammatory molecules for treating a variety of retinal diseases. We believe that our collaboration will result in an eyedrop that may be safely and chronically administered to patients to prevent the devastating consequences of Diabetic Retinopathy and other eye diseases."
"NM108 has the potential to provide a potent new treatment option for a number of prevalent eye diseases and conditions, including diabetic retinopathy, uveitis, and eye trauma," said Iain Duncan, Chief Executive Officer of NeuMedics. "An eyedrop formulation capable of delivering NM108, a potent anti-inflammatory agent, to the posterior segment would be transformative for the field, and offer patients an alternative therapeutic option to intravitreal injections, the current standard of care for diabetic patients. Moreover, we also believe that the topical delivery of this agent may enable the use of NM108 as an adjunctive treatment to the current class of VEGF-inhibitors and laser photocoagulation to potentiate their effects and/or lessen the need for their use.
NeuMedics also announced that they received a $215,000 grant from the Washington State Life Science Discovery Fund to accelerate and enable late stage preclinical development of NM108. The funds provide for a number of enabling activities, including the examination of NM108-MiDROPS™ on preventing loss of visual acuity and contrast vision in an animal model of Diabetic Retinopathy.
There is a critical and unmet medical need for the treatment of ophthalmic diseases caused by diabetes. Of the 29 million people in the US with diabetes, 28% of those diabetic adults aged 25-74 years will suffer from Diabetic Retinopathy, according to the US Centers for Disease Control and Prevention. Diabetic Retinopathy is the leading cause of blindness in diabetics worldwide and the World Health Organization estimates a prevalence of 11% in the 347 million people suffering from diabetes globally. Intraocular injection of vascular endothelial growth factor (VEGF) inhibitors dominates the available therapies for the treatment of Diabetic Retinopathy, Diabetic Macular Edema, and Retinal Vein Occlusion. There is a significant need for effective and patient-friendly therapeutics for retinal diseases that address new cellular pathways which can be chronically administered as an eyedrop.
About EyeCRO
EyeCRO is a global leader in the performance of preclinical ophthalmic research to advance therapeutic discovery and development programs. The company is based in Oklahoma City, OK and provides a number of validated contract research services to the ophthalmic research community worldwide. In addition to the MiDROPS™ platform for topical formulation development, the company provides studies in a number of well-established models to accurately evaluate the activity and pharmacokinetics of test agents for treating diseases such as Wet and Dry Age-Related Macular Degeneration, Diabetic Retinopathy, Retinitis Pigmentosa, Leber's Congenital Amaurosis, and Uveitis. For more information, see http://www.EyeCRO.com
About NeuMedics
NeuMedics is a specialty biopharmaceutical company focused on improving patients' lives by identifying and developing, novel therapeutics for the treatment of retinal diseases that can be safely and chronically administered as an eyedrop. NeuMedics lead compound NM108 is a patented highly lipophilic small molecule that targets the upstream inflammatory mediators that contribute to VEGF leakage and has the potential to significantly reduce the need for intravitreal injections.
This article was originally distributed on PRWeb. For the original version including any supplementary images or video, visit http://www.prweb.com/releases/2015/05/prweb12694992.htm