Ocumension Therapeutics Strengthens Pipeline for Posterior Segment Eye Diseases

HONG KONG, Oct. 30, 2020 /PRNewswire/ -- October 30, 2020, Ocumension TherapeuticsA (1477.HK) announcedA that the Company has entered into a collaboration and exclusive promotion agreement with Shandong Boan BiologicalA Technology Co. Ltd., a wholly-owned subsidiaryA of Luye Pharma Group Ltd. to jointly develop OT-702 (LY09004), a biosimilar to EYLEAA®A (Aflibercept). Ocumension has been granted the exclusive right to promote and commercialize OT-702 in China (for the purpose of the Agreement, Hong Kong, Macau and Taiwan are not included). OT-702 is in phase III clinical trial and isA the company's third line product to enter phase III in China.OT-702 is a recombinant human vascular endothelial growth factor receptor antibody fusion proteinA ophthalmic injection (a biosimilar to EYLEAA®(Aflibercept)). OT-702 will be used to treat patients with neovascular wAMD, macular edema following retinal vein occlusion (RVO), diabetic macular edema (DME), and diabetic retinopathyA (DR). As a soluble trapping receptor, OT-702 can bind to cytokines such as VEGF-A, VEGF-BA and P1GF, inhibit the downstream signaling pathway of VEGFR, inhibit neovascularization, andA reduce vascular permeability, thereby treating pathological neovascularization of the retina andA choroid eye diseases. The head-to-head comparison of OT-702 to EYLEAA® (Aflibercept) showedA a high degree of similarity in both physical and chemical properties and biological activities. Phase I clinical trial showed that OT-702 has a good safety and tolerability profileA with no signs of serious adverse reactions.Mr. Ye LIU, the Executive Director and CEOA of Ocumension Therapeutics said, "With the aging of China's population and a growing number of diabetes patients, the need to provide effective treatments for diseases such as wAMD and DME continues to increase as untreated eye disease can cause deterioration in vision and in some cases blindness. We are pleased to enter into the R&D and commercial cooperation of OT-702 with Luye Pharma. OT-702 complements and strengthens the company's posterior eye product line. It will also be used to form a McAb + fusion protein pipeline combination with OT-701 (a similar drug of raizumab) to fully cover anti-VEGF drugs for macular lesions. We will work with Luye PharmaA to advance the clinical research and commercialization of OT-702 in order to deliver high quality domestic drugs to Chinese middle-aged and elderly patients with macular disease as soon as possible." Mr. JIANGA Hua, Vice President of Luye Pharma and CEO of Boan BiologyA said, "As a well-known ophthalmology company, Ocumension has a professional team and rich operational experience in the field of ophthalmology. This cooperation will give full play to our joint advantages in product development and commercialization, and accelerate the clinical trial and commercialization of LY09004 to meet the urgent clinical needs of Chinese patients. Not only that, we will also continue to develop this product in the United States, Japan, Europe and other major pharmaceutical markets around the world, hoping to serve more patients in need around the world."About Ocumension Therapeutics
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