PR, OSI collaborate to develop sustained-release Macugen for macular degeneration

By E. Janene Geiss

Philadelphia, Jan. 11 - PR Pharmaceuticals, Inc. announced Wednesday an exclusive agreement with OSI Pharmaceuticals to collaborate on the development of a sustained-release formulation of Macugen (pegaptanib sodium injection), a novel treatment for neovascular age-related macular degeneration using PR's proprietary ProPhase encapsulation technology.

Under the terms of the collaboration, PR grants OSI Pharmaceuticals an exclusive license to use its ProPhase technology with respect to Macugen in the treatment of eye diseases, according to a company news release.

The agreement gives OSI and its development and marketing partner Pfizer access to a proprietary method for encapsulating Macugen for use in ophthalmology, officials said.

PR said it is responsible for developing the formulations and manufacturing the test article for nonclinical and clinical trials.

OSI, through its eye disease unit Eyetech, is responsible for clinical development activities and has the right to manufacture and commercialize any resulting product, officials said.

"This collaboration brings together the scientific and technical expertise to develop a sustained-release formulation of Macugen, our breakthrough medicine for neovascular AMD," David Guyer, chief executive officer of Eyetech and executive vice president of OSI Pharmaceuticals, said in the release.

PR received an undisclosed upfront payment from Eyetech and also will receive payments for achieving certain milestones and royalties on net sales of any products resulting from the collaboration, officials said.

OSI will reimburse PR for efforts carried out by PR in support of the collaboration, officials added.

Macugen is indicated in the United States for the treatment of neovascular age-related macular degeneration and is administered in a 0.3-mg dose once every six weeks by intravitreal injection.

OSI is a Melville, N.Y., pharmaceutical company focused on development and commercialization of high-quality and novel products that extend life or improve the quality of life for patients with cancer, eye diseases and diabetes. The company operates through three business teams, Oncology, Eyetech and Prosidion.

PR is a Fort Collins, Colo., privately held biopharmaceutical company that uses its unique sustained-release injectable technologies to develop its own proprietary products.

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