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Inspire Pharmaceuticals, Inc. announced today the receipt of a $1.25 million milestone payment from its Asian dry eye partner, Santen Pharmaceutical Co., Ltd., related to the completion of Santen’s Phase 3 testing of diquafosol tetrasodium, referred to as DE-089, for the treatment of dry eye
DURHAM, NC, USA | May 16, 2008 | Inspire Pharmaceuticals, Inc. announced today the receipt of a $1.25 million milestone payment from its Asian dry eye partner, Santen Pharmaceutical Co., Ltd., related to the completion of Santen’s Phase 3 testing of diquafosol tetrasodium, referred to as DE-089, for the treatment of dry eye. Santen has announced that it expects to file an application by the end of June 2008 for marketing approval in Japan.
Inspire and Santen have a collaborative agreement for the license, development and supply for diquafosol for the therapeutic treatment of ocular surface diseases, including dry eye, in Japan, China, South Korea, the Philippines, Thailand, Vietnam, Taiwan, Singapore, Malaysia and Indonesia. If the product is approved by regulatory authorities, Santen will be responsible for commercialization of the product in the designated countries and Inspire will receive royalties on net sales of the product, based on undisclosed rates specified in the agreement.
Christy L. Shaffer, Ph.D., President and CEO of Inspire, stated, “Santen has been successful in developing and commercializing ophthalmic products in Japan. We are pleased that Santen is moving rapidly toward a Japanese marketing application, which could lead to a meaningful royalty stream for Inspire, if the product is approved.”
About Inspire
Inspire is a biopharmaceutical company dedicated to discovering, developing and commercializing prescription pharmaceutical products for diseases in the ophthalmic and respiratory areas. Inspire is currently developing products for dry eye, cystic fibrosis and glaucoma. Inspire employs a U.S. sales force for the promotion of AzaSite(R) (azithromycin ophthalmic solution) 1% for bacterial conjunctivitis, Elestat(R) (epinastine HCI ophthalmic solution) 0.05% for allergic conjunctivitis and Restasis(R) (cyclosporine ophthalmic emulsion) 0.05% for dry eye. Elestat, Restasis and Prolacria are trademarks owned by Allergan, Inc. AzaSite is a trademark owned by InSite Vision Incorporated. For more information, visit www.inspirepharm.com.
SOURCE: Inspire Pharmaceuticals, Inc. |
