Eisai and Santen Enter into Option Agreement for New Ophthalmic Drugs
From ENP Newswire (September 26, 2012)
ENP Newswire - 26 September 2012
Release date- 25092012 - Eisai Co., Ltd. (Headquarters: Tokyo, President & CEO: Haruo Naito, Eisai) and Santen Pharmaceutical Co., Ltd. (Headquarters: Osaka, President & CEO: Akira Kurokawa, Santen) announced today that they have entered into an option agreement which grants Santen rights of evaluation and first negotiation for Eisai-owned compounds in the field of ophthalmology.
Under the terms of the agreement, Eisai shall grant Santen the rights to evaluate the feasibility of developing compounds disclosed by Eisai for use in the ophthalmologic field within a certain period as well as the rights of first negotiation for a license agreement concerning any selected compound. In consideration of the granted rights, Santen will pay Eisai a lump-sum payment up-front.
In cases where license agreements are concluded based on the terms of this agreement, Santen will be able to apply in the ophthalmologic field any compounds for which efficacy, safety and other data have been accumulated, and as a result, can expect to enhance its ophthalmology pipeline and reduce the time it takes to bring the respective compounds to Phase I clinical development. Furthermore, by licensing out compounds to Santen, a company that has built up a wealth of experience and achievements in the ophthalmology field, Eisai will be able to further maximize the value of its compounds.
Based on this contractual relationship, the two companies seek to leverage Eisa's compounds and Santen's strengths in the field of ophthalmology to expedite the creation of innovative new drugs to treat ophthalmic diseases, thereby making further contributions to address the diversified needs of, and increase the benefits provided to, patients and their families.
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Posted: September 2012