Bausch Health Companies (NYSE:BHC) unit Bausch + Lomb inks an agreement with Heidelberg, Germany-based Novaliq GmbH for exclusive U.S. and Canadian rights to NOV03 (perfluorohexyloctane) for the potential treatment of dry eye disease associated with Meibomian gland dysfunction (gland that secretes oils onto the surface of the eye).
Under the terms of the deal, Novaliq will receive upfront and milestone payments and royalties on net sales. Specific financial terms are not disclosed. BHC has the right to pursue additional ophthalmic indications for NOV03, alone and in combination (Novaliq will be eligible for additional payments and royalties for the combo products).
A Phase 2 trial was successful, achieving the primary endpoint of a statistically significant improvement of total corneal fluorescein staining at week 8 versus placebo.
A Phase 3 study is in process. BHC plans to start another Phase 3 in 2020.
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