Sirion Therapeutics Acquires Worldwide License to Develop New Treatment for Ocular Diseases
TAMPA, Fla., Feb. 20 -- Sirion Therapeutics, Inc., a privately held ophthalmic-focused biopharmaceutical company, today announced that it has entered into an exclusive licensing agreement with Bridge Pharma, Inc. of Sarasota, FL for the worldwide rights to develop and market topical ophthalmic formulations containing Bridge Pharma's proprietary anti- inflammatory agent norketotifen.
"This agreement represents yet another significant milestone for Sirion. We are very excited about the medical and market potential of the norketotifen molecule," said Roger Vogel, MD, Chief Medical Officer of Sirion Therapeutics.
Under the terms of this licensing agreement, Sirion Therapeutics will have the rights to manufacture, sell and distribute norketotifen for ocular use either alone or in combination with other drugs. Norketotifen is a potent anti-inflammatory drug with additional antihistaminic activity that may have clinical utility in various ocular conditions.
"We hope to begin clinical trials with the new formulation of norketotifen in the first half of 2009," said Barry Butler, Chief Executive Officer of Sirion Therapeutics.
Dr. Gunnar Aberg, Chief Executive Officer of Bridge Pharma, said, "We are pleased to be working with Sirion Therapeutics, a company that has made impressive strides since its founding and is staffed with highly qualified individuals with many years of experience in developing and launching ophthalmic pharmaceuticals."
About Sirion Therapeutics, Inc.
Sirion Therapeutics is a privately held biopharmaceutical company pursuing the discovery, development and commercialization of products addressing unmet medical needs in the protection and preservation of eyesight. Sirion's pipeline includes four compounds: difluprednate, a topical steroid for post- operative inflammation and uveitis; ganciclovir, a topical antiviral for herpetic keratitis; cyclosporine, a topical immunomodulator for dry eye; and fenretinide, a first-in-class oral vitamin A binding protein antagonist for geographic atrophy associated with dry AMD. In addition, Sirion has preclinical programs in back of the eye diseases and allergy. For more information, please visit http://www.siriontherapeutics.com .
About Bridge Pharma, Inc.
Bridge Pharma, Inc. is a privately held pharmaceutical research and development company located in Sarasota, FL. Bridge Pharma was founded in 1996 by Dr. Gunnar Aberg, currently CEO. In addition to the current license with Sirion Therapeutics, Bridge has out-licensed internally developed drugs for growth promotion, heaves in horses, obesity, pain, over-active bladder and urinary incontinence. Bridge is committed to the discovery, research and development of NCEs that provide therapeutic treatment for unmet medical needs.
This press release contains forward-looking statements and information about Sirion Therapeutics, Inc.'s and Bridge Pharma Inc.'s business and products. These forward-looking statements are only business forecasts. Actual results may differ from the results anticipated, expressed or implied by these forward-looking statements and are dependent upon, among other things, drug applications and regulatory authorizations.