Ocuphire Pharma enters exclusive license agreement with FamyGen Life Sciences

Ocuphire Pharma (OCUP) announced it has concluded an exclusive license agreement with FamyGen Life Sciences for the development and commercialization of Nyxol across three indications in US, Europe, Japan, India, China and other global markets. In connection with its separately announced transaction with Famy, Viatris (VTRS), has agreed to commercialize Nyxol following each regulatory approval. Under the terms of the license agreement, Ocuphire will receive an upfront cash payment of $35M. Famy will fund Nyxol development through FDA approvals, that will be managed by Ocuphire, including clinical, manufacturing, and regulatory activities required for FDA approval of all three Nyxol indications, including Nyxol+Low-Dose Pilocarpine. With the upcoming NDA submission for the reversal of mydriasis indication this quarter, Ocuphire has the potential to receive a $10M milestone payment upon FDA approval later in 2023 and thereafter to receive additional regulatory milestones for presbyopia and night vision disturbances indications. In addition to funding Ocuphire’s development of Nxyol in the U.S., Famy will undertake development in the non-US markets.