HEIDELBERG, Germany--(BUSINESS WIRE)-- Novaliq, a specialty pharmaceutical company with a disruptive drug delivery platform that transforms poorly soluble drugs into effective therapeutics for ophthalmology, today announced a strategic licensing agreement with AFT Pharmaceuticals (AFT) for the commercialization of Novaliq's lead product NovaTears® in Australia and New Zealand.
NovaTears is Novaliq's first commercially available ophthalmic product for the treatment of evaporative dry eye diseases (DEDs). In Europe, NovaTears is distributed by URSAPHARM under the brand name EvoTears®.
Under the terms of the agreement, Novaliq has granted AFT an exclusive license for the commercialization of NovaTears across Australasia. In return for these rights, Novaliq will receive an undisclosed upfront payment and royalties on net sales of NovaTears.
"Novaliq is delighted to collaborate with AFT, a leading and innovative pharmaceutical company with a strong commitment to eye care," said Christian Roesky, PhD, CEO, Novaliq. "NovaTears provides a highly differentiated and clinically validated treatment option that significantly improves the signs and symptoms of evaporative DED and Meibomian gland dysfunction (MGD), highly underserved diseases. We are confident that dry eye patients in Australasia will greatly benefit from the use of NovaTears and our partnership with AFT."
"AFT is dedicated to bringing innovative products to market that make a real difference to people's health," said Hartley Atkinson, MD, CEO, AFT. "The addition of NovaTears to our eye care line will be welcomed by doctors and patients alike. It's a first-in-class, water-free and preservative-free treatment based on Novaliq's proprietary EyeSol® technology platform. NovaTears supports the lipid layer of the tear film by its ability to quickly spread and be absorbed into the eye. We believe that this feature - combined with its small droplet size - will provide superior benefits to patients with evaporative dry eye disease."
NovaTears, the first product developed and commercialized that incorporates Novaliq's proprietary EyeSol technology, is an innovative multi-dose, non-aqueous and preservative-free topical eye drop for the lubrication of the ocular surface. The NovaTearsdroplet forms a thin and smooth protecting film supporting the lipid layer in its function to prevent tear evaporation for the relief of dry eye and irritated eye symptoms. NovaTears has been classified as a class Ⅱa medical device and received CE mark approval in Europe in July 2013. Open, prospective, uncontrolled post-market clinical studies NT-001 and NT 002 successfully demonstrated safety and significant improvement in signs and symptoms of dry eye disease and Meibomian gland dysfunction. All results of the study point towards excellent clinical performance, safety and very high convenience and acceptance of NovaTears for patients suffering from hyper-evaporative dry eye.
About AFT Pharmaceuticals - AFT founded in 1997 is an Auckland, New Zealand-based pharmaceuticals company operating in Australia, New Zealand and the Pacific Islands. AFT is listed on the Australian [ASX] and New Zealand [NZX] stock exchanges since December 2015 and has significant local sales operations in Australasia together with R&D activities in pain, orphan drugs and medical devices.
About Novaliq - Novaliq GmbH, founded in 2004, is a Heidelberg based specialty pharmaceutical company focused on ophthalmology. Its mission is to transform poorly soluble drugs into effective ocular therapeutics for both the front and the back of the eye. Novaliq's proprietary EyeSol technology enhances the topical bio availability, stability and safety of traditionally insoluble or unstable drugs improving the delivery, efficacy and convenience of treatments for ocular surface diseases including dry eye through preservative free and multi dose formulations. Novaliq's most advanced product is NovaTears® with CE-marking based on Novaliq's proprietary EyeSol technology. NovaTears is marketed under the brand name EvoTears® in Europe. More on www.novaliq.com.
To read more Press Release articles, click here.