ISTA LICENSES OPHTHALMIC PRODUCTS FROM JAPANESE DRUGMAKER

ISTA Pharmaceuticals, a California-based company that focuses on ophthalmic products, has exclusively licensed the North American rights to two new product candidates, iganidipine, a calcium channel blocker, and a new formulation of latanoprost, a prostaglandin, from Japan's Senju Pharmaceuticals. Both candidates are under investigation for the treatment of glaucoma and other ophthalmic applications, and, if approved, will be complementary to Istalol, ISTA's beta-blocker for the treatment of glaucoma.

According to the iganidipine agreement, ISTA will pay Senju an upfront payment and aggregate development and approval milestones of approximately $8 million, in addition to royalties on future product sales. Under the terms of the agreement for the new latanoprost formulation, ISTA will pay Senju an upfront payment and development and approval milestones of approximately $8 million, as well as royalties on future product sales.