Isotechnika grants ISA24 ophthalmic rights to Lux Biosciences

By Elaine Rigoli

Tampa, Fla., May 25 - Isotechnika, Inc. has granted Lux Biosciences, Inc. worldwide rights to develop and commercialize Isotechnika's lead drug, ISA247 for the treatment and prophylaxis of all ophthalmic diseases.

According to a news release, the terms of the agreement include the following:

• Lux will make upfront and milestone payments to Isotechnika. Assuming all development milestones are achieved, the amount of this deal will be $32.7 million with Isotechnika receiving an upfront payment of $3 million;

• Lux will pay Isotechnika royalties based on a percentage of net sales;

• Lux has exclusive worldwide marketing rights of ISA247 for all ophthalmic indications;

• Lux would be responsible, at its sole expense, for preclinical and clinical development, registration and marketing of ISA247 for all ophthalmic indications;

• Isotechnika will be providing input on clinical trial design and will be reviewing and consulting on all regulatory filings;

• A joint steering committee with equal membership from Isotechnika and Lux will be formed to oversee the development and commercialization of all ophthalmic indications.

ISA247 is a novel calcineurin inhibitor currently being investigated in a phase 3 trial for the treatment of moderate-to-severe psoriasis and a phase 2b trial for the prevention of organ rejection following transplantation.

Isotechnika is an international biopharmaceutical company based in Edmonton, Alta.

Lux Biosciences, located in Jersey City, N.J., is a privately held biotechnology company specializing in the field of ophthalmic diseases.

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