PanOptica Announces Licensing Agreement with Zhaoke Ophthalmology for the Treatment of Neovascular Eye Diseases in China, South Korea, and Southeast Asia
PanOptica announced a licensing agreement with Zhaoke Ophthalmology Limited to develop and commercialize PAN-90806, an investigational topical eye drop for the treatment of neovascular eye diseases, including wet age-related macular degeneration (AMD) and diabetic retinopathy, in China, South Korea, and southeast Asia. The parties have been working together through technology transfer and collaborating on manufacturing and clinical development plans.
The agreement, signed in December 2020, calls for Zhaoke Ophthalmology to develop and commercialize PAN-90806 in a territory that includes Greater China (the People’s Republic of China, Hong Kong, Macau, and Taiwan), South Korea, and the 10 Association of Southeast Asian Nations (ASEAN) countries: Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Vietnam. PanOptica retains all rights to PAN-90806 in the rest of the world.
“We view Zhaoke Ophthalmology, with its deep expertise in ophthalmology and established regional infrastructure, as the ideal partner to develop and commercialize PAN-90806 in eastern and southeast Asia, where wet AMD and diabetic retinopathy are major causes of blindness and increasing in prevalence,” Paul G. Chaney, President and Chief Executive Officer of PanOptica, said in a company news release. “Our agreement with Zhaoke Ophthalmology gives fresh momentum to our efforts to realize the full clinical potential of PAN-90806 in treating serious ophthalmic diseases, as we continue to pursue similar licensing agreements with potential strategic partners in other parts of the world.”
“In China, there is very low patient compliance with anti-VEGF intraocular injection therapies. We believe PAN-90806, as a once-daily topical eye drop, has the potential to greatly reduce the injection burden for patients with wet AMD and diabetic retinopathy. As a maintenance therapy, PAN-90806 is a strategic and complementary fit with TAB014 (bevacizumab), our anti-VEGF therapy in development for the treatment of wet AMD,” Benjamin Li, PhD, Chairman and Chief Executive Officer of Zhaoke Ophthalmology, said in the news release. “We are excited to partner with PanOptica to lead, develop, and deliver a potential game-changing solution for a growing number of individuals whose sight is threatened by these eye diseases.”
Under the terms of the agreement, PanOptica has received an initial upfront payment and may be eligible to receive up to a total of $30 million over time for the achievement of specified development, regulatory, and commercial milestones. In addition, PanOptica may be eligible to receive royalties based on product sales of PAN-90806.
Zhaoke Ophthalmology will be responsible for the clinical and regulatory development of PAN-90806, as well as the commercialization, distribution, and marketing of PAN-90806, if approved by regulatory authorities, in the territories comprising Greater China, South Korea, and the 10 ASEAN countries. PanOptica will support Zhaoke Ophthalmology through the provision of its expertise and know-how, as well as its existing supply of investigational product and/or active pharmaceutical ingredient.
About PAN-90806
PAN-90806 is a potent and selective inhibitor of vascular endothelial growth factor (VEGF) receptor signaling. VEGF is a protein that plays a critical role in angiogenesis (the formation of new blood vessels) and increased permeability (leakage from blood vessels), two pathological processes that contribute to the vision loss associated with wet AMD. In a phase 1/2 clinical trial, more than half of participants receiving once-daily topical PAN-90806 ophthalmic suspension for 12 weeks completed the study without needing rescue with anti-VEGF intraocular injection medication. Of those patients, 88% experienced either clinical improvement or stability of their disease, as confirmed by a panel of independent retina experts, with no serious or severe adverse effects related to PAN-90806.