EyeGate Pharmaceuticals Closes Acquisition of Bayon Therapeutics
EyeGate Pharmaceuticals announced that it has completed the planned acquisition of Bayon Therapeutics and has appointed Eric J. Daniels, MD, MBA, as its Chief Development Officer, effective as of October 21, 2021. Dr. Daniels will drive ongoing development of EyeGate’s pipeline of novel treatments for eye disease. This includes overseeing the development of a potential vision-restoring small molecule from Bayon, B-203, which acts as a ‘molecular photoswitch’ specifically designed to restore vision in patients with inherited and age-related degenerative retinal diseases.
“Eric joins EyeGate with a track record for enhancing operational capabilities and a strong background in nonclinical and clinical development of ophthalmology drugs,” Brian M. Strem, PhD, President and Chief Executive Officer of EyeGate, said in a company news release. “Further, the Bayon acquisition expands the EyeGate pipeline with an initial opportunity to treat orphan inherited retinal diseases and creates a balanced portfolio of early to mid/late-stage assets and market size opportunities.”
Dr. Daniels has nearly 20 years of operating experience in biotechnology and medical device companies. Prior to joining EyeGate, he served as the CEO of OccuRx Pty Ltd as well as Co-Founder and Director of Bayon, both focused on the development of novel ophthalmic therapeutics. Eric is also a Co-Founder and Director of Okogen, a specialty ophthalmic biotechnology company. Eric previously served as part of the leadership teams at Puregraft LLC, Tensys Medical, and Cytori Therapeutics, serving in senior medical, R&D, and commercial roles. Eric holds an MBA from the Anderson School of Management at the UCLA, where he also received his MD from the UCLA School of Medicine. Eric received his BS in molecular biology from the University of California, Berkeley.
Under the terms of the definitive agreement, EyeGate acquired all of the outstanding shares of Bayon, and Bayon became a wholly owned subsidiary of EyeGate. At closing, EyeGate issued a total of 33,798 common shares to the stockholders of Bayon, who will also be eligible to receive up to $7.1 million in additional payments upon the achievement of successive milestones based on clinical trial data and regulatory approval of Bayon products. The milestone payments may be paid, at EyeGate’s discretion, either in shares of common stock or in cash, subject to limitations set forth in the definitive agreement.
About B-203
B-203 is a light sensitive small molecule that acts as a reversible ‘photoswitch.’ The molecule was specifically designed to restore the eyes’ ability to perceive and interpret vision in visually impaired patients. It selectively enters viable downstream retinal ganglion cells (no longer receiving electrical input due to degenerated rods and cones) and turns them into light sensing cells, capable of signaling the brain as to the presence or absence of light. B-203 is expected to enter the clinic in 2022 with an initial focus on patients with later stages of disease progression due to Retinitis Pigmentosa (any and all sub-forms). EyeGate plans to further develop the platform for use in patients with Geographic Atrophy, the later stages of Age-Related Macular Degeneration (dry AMD).