Théa Acquires Rights to KIO-301 for the Treatment of Inherited Retinal Diseases in $301 Million Deal
Kiora Pharmaceuticals announced that it has entered a strategic development and commercialization agreement with Théa Open Innovation (TOI), a sister company of Laboratoires Théa under with Kiora granted Théa exclusive worldwide development and commercialization rights, excluding Asia, to KIO-301 for the treatment of degenerative retinal diseases. In exchange, Kiora will receive an upfront payment of $16 million, and up to $285 million upon achievement of prespecified clinical development, regulatory and commercial milestones. Kiora will also received tiered royalties of up to low 20% on net sales, and reimbursement of KIO-301 research and development expenses.
The partnership covers retinitis pigmentosa and potentially other indications in ophthalmology across all global geographies, excluding China, Japan, and certain other countries in Asia. Kiora is primarily responsible for the design and implementation of clinical development through phase 2, and Théa will assume primary responsibility for phase 3 clinical trials as well as for securing regional marketing authorizations. Upon approval in respective regions, Théa will be responsible for all commercial activities including sales, marketing and market access.
“Our partnership with TOI provides us the strategic, financial and commercial resources that we believe will help to bring innovative treatments to market for patients living with inherited retinal disease,” Brian Strem, PhD, CEO of Kiora, said in a company news release. “Based on the phase 1/2 (ABACUS) data of KIO-301 in retinitis pigmentosa (RP), we have started to implement our plan to initiate our phase 2, multicenter, controlled clinical trial for retinitis pigmentosa, in early 2024 with the goal of reporting results in H1 2025 and explore other retinal disease where KIO-301 may be applicable.”
Data from ABACUS, reported in November 2023, demonstrated meaningful vision improvements in patients with late-stage RP. Findings included significant improvement in visual field, concordant trended improvements in visual acuity, and tests of functional vision relating to the use of sight in everyday activities. In addition, functional MRI demonstrated increased visual cortex activity (region of the brain responsible for processing vision) relative to baseline at two and 14 days after treatment.
“This partnership confirms our commitment to advancing innovation in the treatment of unmet need for ophthalmic diseases,” said Jean-Frédéric Chibret, President of the Théa group. “KIO-301 fits ideally into our range of therapeutic solutions as a cutting-edge product intended to return vision to patients suffering from hereditary retinal diseases thanks to an innovative small molecule. Promising clinical trial results recently reported at the American Academy of Ophthalmology meeting on KIO-301 give us further confidence in the program and the potential to bring a new treatment option to patients suffering from rare diseases."