Visiox Pharma, Inc., a privately funded biopharmaceutical company focused on the development and commercialization of ophthalmic drugs to address highly prevalent diseases in need of new treatment options, today announced it has entered into a definitive agreement with Santen Pharmaceutical Co., Ltd to license OMLONTI® (omidenepag isopropyl ophthalmic solution) 0.002%, a New Chemical Entity (NCE) recently approved by the U.S. Food and Drug Administration (FDA).

OMLONTI® (omidenepag isopropyl ophthalmic solution) 0.002% is a relatively selective prostaglandin E2 (EP2) receptor agonist, indicated for the reduction of elevated intraocular pressure (IOP) in patients with open-angle glaucoma or ocular hypertension. Visiox plans to launch OMLONTI in early 2024, followed by once-daily PDP-716 (brimonidine) 0.35%, positioning the company to become a leader in glaucoma, a disease with significant impact on patients.

"We are pleased to add OMLONTI® to our innovative pharmaceutical portfolio," said Ryan Bleeks, Chief Executive Officer. "We believe this is a compelling transaction, as it expands our addressable market opportunity enhancing our long-term growth and profitability."

The strategic license provides exclusive rights in the U.S. for product manufacturing and commercialization of OMLONTI®. Santen will receive an equity stake in Visiox as an upfront payment, and remains eligible to receive sales milestone payments, as well as royalties on net sales of OMLONTI® in the U.S.