ThromboGenics NV, a biotechnology company developing novel treatments for retinal disorders, with a focus on diabetic eye disease, announced that it will regain full global rights to Jetrea from Alcon, a Novartis company, based on a mutual agreement that the unique characteristics of Jetrea make Thrombogenics a better fit for building a sustainable long-term niche business.
Jetrea is the first and only approved pharmacological treatment for symptomatic vitreomacular adhesion (VMA) in the US and vitreomacular traction (VMT) in Europe and elsewhere in the world. First introduced in 2013, Jetrea has been approved in 54 countries worldwide, with nearly 30,000 patients being treated in about 20 countries.
Under the terms of the agreement, Alcon and Novartis will work closely with ThromboGenics to ensure continuity and access to Jetrea for existing and future customers.
Patrik De Haes, MD, CEO of ThromboGenics nv, said "We are pleased to have reached this agreement with Alcon and Novartis in relation to the non-US rights to Jetrea. We intend to take time to evaluate how best to capitalize on the global opportunity that we now have with Jetrea. In the near term, it is our key priority to secure the continuity of care by ensuring that patients and physicians have timely access to this unique pharmacological treatment for symptomatic vitreomacular adhesion/ traction (sVMA/VMT). We look forward to working with Novartis during this important transition period."
Dr. De Haes continued, "We are also pleased to welcome Novartis as a shareholder in ThromboGenics as we are developing our pipeline of novel treatments for diabetic eye disease. The significant funds that we have received today will allow ThromboGenics to develop its pipeline of novel disease-modifying drug candidates which are targeting all of the key segments of the diabetic eye disease market."
Under the terms of the agreement, ThromboGenics receives a cash amount of €53.7 million and a forthcoming equity investment of €10 million in ThromboGenics capital.