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Shares of Sun Pharma Advanced Research Company (SPARC) was trading up 1.34 per cent on Wednesday at ₹253 a piece on Wednesday morning after the company announced that it has entered into an agreement with Visiox Pharma LLC to grant exclusive worldwide rights (except for India and Greater China) for the development and commercialisation of two ophthalmic drugs called PDP-716 and SDN-037.
SPARC will be eligible to receive an upfront payment, milestone payments and royalty on sales, in addition to 10 per cent equity in Visiox, according to a stock exchange filing.
“We are excited to enter into this collaboration. The collaboration with Visiox allows us to make PDP-716 and SDN-037 available to patients seeking to overcome the challenges associated with the currently marketed formulations of these drugs," said Anil Raghavan, CEO of SPARC.
PDP-716
PDP-716 is a novel, once daily, ophthalmic suspension of brimonidine tartrate 0.35 per cent. PDP-716 was developed using SPARC’s proprietary TearActTM technology.
SDN-037 is a novel, twice-a-day, clear, micellar formulation of difluprednate. SDN-037 is a difluprednate ophthalmic solution administered at lower dose (i.e. 0.04 per cent w/v) with a reduced dosing frequency (twice-a-day) compared to the currently commercialised formulation of difluprednate.
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