Vyluma and Laboratoires Théa announced that they have recently entered into an exclusive licensing agreement for the registration and commercialization of NVK002 in Canada, Mexico, and select South American Countries.
This agreement represents an expansion of the previously announced exclusive licensing agreement for the commercialization of NVK002 in Europe and other select countries.
NVK002 is a proprietary, investigational, preservative-free eye drop administered nightly and intended for slowing the progression of myopia in children ages 3 to 17. It is currently under late-stage clinical evaluation in the CHAMP (Childhood Atropine for Myopia Progression) study, a phase 3 multicenter clinical trial being carried out in the US and Europe.
“We are very pleased to build upon the strong partnership we have established with Théa to include these exciting new markets,” Raul A. Trillo, MD, MBA, Chief Commercial Officer at Vyluma, said in a company news release. “Théa has been an acknowledged pioneer in preservative-free eye care treatments, and by expanding the scope of the agreement signed in 2021, more patients will now have access to this important new therapeutic.”
Under the terms of the agreement, Théa will manage the approval process for the product and once approved will launch, sell, and support the product in the newly selected countries.
With this latest agreement, Vyluma has the potential to receive payments exceeding $150 million upon the successful attainment of key regulatory and sales milestones across the Théa-licensed markets in Europe, Canada, and Latin America. In addition, Vyluma will be entitled to tiered royalty payments, ranging from the mid-to-upper teens, on net sales of NVK002 under the expanded agreement.