ISTA Pharmaceuticals pays $16 million for glaucoma licenses

By Elaine Rigoli

Tampa, Fla., June 19 - ISTA Pharmaceuticals has exclusively licensed from Senju Pharmaceuticals the North American rights to two new product candidates, iganidipine, a calcium channel blocker, and a new formulation of latanoprost, a prostaglandin.

Both candidates are under investigation for the treatment of glaucoma and other ophthalmic applications. If approved, ISTA said both treatments will complement Istalol, the company's once-daily beta blocker marketed for the treatment of glaucoma.

According to the iganidipine agreement, ISTA will pay Senju an upfront payment and total development and approval milestones of about $8 million, in addition to royalties on future product sales.

Under the agreement for the new latanoprost formulation, ISTA will pay Senju an upfront payment and development and approval milestones of about $8 million, as well as royalties on future product sales.

Under both agreements, ISTA is responsible for North American development for both product candidates, including clinical trials and the preparation and submission of the New Drug Applications to the Food and Drug Administration, according to a news release.

ISTA is also responsible for manufacturing and, if the products are approved, marketing and selling activities, the release said.

ISTA is a specialty pharmaceutical company based in Irvine, Calif.

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