EyePoint Pharmaceuticals and Ocumension Therapeutics Sign Exclusive License Agreement to Develop and Commercialize DEXYCU for Post-operative Inflammation in Mainland China, Hong Kong, Macau and Taiwan

WATERTOWN, Mass., Jan. 27, 2020 (GLOBE NEWSWIRE) -- EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a biopharmaceutical company committed to developing and commercializing innovative ophthalmic products, and Ocumension Therapeutics, a fast-growing ophthalmology focused pharmaceutical company in China, today announced an exclusive license agreement for the development and commercialization of DEXYCU (dexamethasone intraocular suspension) 9% for the treatment of post-operative inflammation following ocular surgery in Mainland China, Hong Kong, Macau and Taiwan. DEXYCU is currently marketed by EyePoint in the U.S. EyePoint maintains worldwide development and commercialization rights outside of the territories licensed to Ocumension.

Under the terms of the agreement, EyePoint will receive an upfront payment of $2 million and royalties on product sales by Ocumension. EyePoint is eligible to receive up to an additional $12 million if certain future prespecified development, regulatory and commercial sales milestones are achieved by Ocumension. In exchange, Ocumension will receive exclusive rights to develop and commercialize the product in the agreed upon territories. Eyepoint will also be the exclusive supplier of DEXYCU to Ocumension for clinical use and commercial sale.

“DEXYCU is an important addition to our growing portfolio of ocular disease treatments for patients in the greater China region and continues our strong partnership with EyePoint,” said Ye Liu, Chief Executive Officer of Ocumension. “There is a need for innovation to replace the burdensome steroid eye drop regimen prescribed for post-cataract surgery inflammation which has low patient compliance due to its complex dosing schedule. DEXYCU has the potential to become the new standard of care as a single-dose, sustained release therapeutic option that provides long-lasting benefit for up to 22 days.”

“Ocumension shares our common goal of rapidly advancing innovative ocular disease therapies to address growing areas of unmet need and improve the standard of care for patients,” said Nancy Lurker, President and Chief Executive Officer of EyePoint Pharmaceuticals. “We are pleased to partner with their team to expand the global reach of DEXYCU in the emerging Chinese market on behalf of patients in need.”

About EyePoint Pharmaceuticals
EyePoint Pharmaceuticals, Inc. (www.eyepointpharma.com) is a biopharmaceutical company committed to developing and commercializing innovative ophthalmic products in indications with high unmet medical need to help improve the lives of patients with serious eye disorders. The Company currently has two commercial products: DEXYCU, the first approved intraocular product for the treatment of postoperative inflammation, and YUTIQ, a three-year treatment of chronic non-infectious uveitis affecting the posterior segment of the eye. The Company's pipeline leverages its proprietary bioerodible Durasert technology for extended intravitreal drug delivery with programs targeting wet age-related macular degeneration and other retinal conditions. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts with offices in Basking Ridge, New Jersey. To learn more about the Company, please visit www.eyepointpharma.com and connect on Twitter and LinkedIn.