EyePoint Pharmaceuticals Receives $9.5 Million From Ocumension Therapeutics Under Expanded License Agreements

EyePoint Pharmaceuticals, Inc. and Ocumension Therapeutics recently announced the expansion of their exclusive license agreements for the development and commercialization of YUTIQ and DEXYCU in certain Asian markets. Under the expanded agreements, Ocumension has made a one-time $9.5 million payment to EyePoint for rights to commercialize both products under their own brand names in South Korea and other jurisdictions across Southeast Asia and as the full and final prepayment of all remaining development, regulatory, and commercial sale milestone payments under the original license agreements.

“Ocumension is an important partner that shares our beliefs in the therapeutic potential of YUTIQ and DEXYCU for ocular diseases that represent growing and significant areas of unmet medical need,” said George Elston, Chief Financial Officer and Head of Corporate Development of EyePoint Pharmaceuticals. “We are delighted to expand our partnership with Ocumension to include the broader Asian marketplace. The payment from the expanded license agreements will support our operations and the ongoing clinical development of our pipeline, including our lead candidate, EYP-1901, a potential six-month sustained delivery therapy for wet age-related macular degeneration.”

“EyePoint’s YUTIQ and DEXYCU are important programs in our portfolio of ocular disease treatments that have the potential to replace current standards of care that lack long-term activity, especially given the impact of COVID-19 on patient desire to visit the doctor,” said Ye Liu, Chief Executive Officer of Ocumension. “We look forward to continuing our development efforts for both products in order to bring these innovative treatment options to patients in need across Asia.”

EyePoint Pharmaceuticals, Inc. is a pharmaceutical company committed to developing and commercializing innovative ophthalmic products in indications with high unmet medical need to help improve the lives of patients with serious eye disorders. The company currently has two commercial products: DEXYCU, the first approved intraocular product for the treatment of postoperative inflammation, and YUTIQ, a 3-year treatment of chronic non-infectious uveitis affecting the posterior segment of the eye. The company’s pipeline leverages its proprietary bioerodible Durasert technology for extended intraocular drug delivery including EYP-1901, a potential six-month anti-VEGF therapy initially targeting wet age-related macular degeneration. EyePoint Pharmaceuticals is headquartered in Watertown, MA, with offices in Basking Ridge, NJ. For more information, visit www.eyepointpharma.com.

Ocumension Therapeutics is a China-based ophthalmic pharmaceutical platform company dedicated to identifying, developing and commercializing first- or best-in-class ophthalmic therapies. The company’s vision is to provide a world-class pharmaceutical total solution to address significant unmet ophthalmic medical needs in China. Since the inception, Ocumension Therapeutics has focused on building a platform integrating specialized capabilities in each major functionality involved in an ophthalmic drug’s development cycle, from research and development, manufacturing to commercialization. Ocumension Therapeutics believes its platform positions it well to achieve leadership in China ophthalmology, with a first-mover advantage over future competitors.

Investors:
Argot Partners
Sam Martin or Joe Rayne
212-600-1902
eyepoint@argotpartners.com

Media:
Thomas Gibson
201-476-0322
tom@tomgibsoncommunications.com

Ocumension Contact:
Qinglei Zuo
+86-21-68362137-7796
qinglei.zuo@ocumension.com