By Jessie Yount – Featured on ocbj.com
IACTA Pharmaceuticals Inc. in Irvine nabbed a licensing agreement with Zhaoke Ophthamology Pharmaceutical to co-develop and commercialize two drug candidates in China and other Southeast Asian countries.
“This agreement creates the potential to bring next-generation therapeutics to millions of people in China and beyond. With a state-of-the-art manufacturing facility and backing from major, well-known VCs and investors, Zaoke is the perfect partner for this global initiative,” said Damon Burrows, chief executive of IACTA.
Burrows, who was associate general counsel at Allergan, founded IACTA in 2016.
Zaoke is a subsidiary of Hong Kong-based Lee’s Pharmaceutical Holdings.
Under the agreement, IACTA will receive up-front license fees and reimbursement for some development costs. It is eligible for additional milestone payments and tiered royalties upon commercialization.
IACTA and Zhaoke will trial two drug candidates in Phase 2 studies: IC-265 for dry eye and IC-270 for allergic conjunctivitis—an inflammatory condition of the eye due to exposure to pollen or mold.
IC-270 is a combination drug (made up of an antihistamine and IC-265) that aims to reduce redness and inflammation, as well as itching, the drugmaker said.
The companies said they will share existing and future data and drug materials in pursuit of expedited regulatory clearance in China, in addition to Hong Kong, Macau, Singapore, Thailand and Vietnam.