BIOVIIIx unit deal with TagCyx to create new company

Naples, Italy-based rare diseases focused biotech BIOVIIIx says that its subsidiary Anbition and Japanese firm TagCyx Biotechnologies have entered a merger in order to create a new company, Ophyx.

This partnership has the goal of revolutionizing the treatment of ophthalmic conditions. The ambitious project will combine the ophthalmic pipeline assets of both companies to develop innovative therapies for ocular diseases. Ophyx will focus its activities on two key therapeutic areas: dry eye disease (DED) and age-related macular degeneration (AMD). No financial terms have been revealed.

In both segments, Ophyx aims to introduce treatments that will redefine the current standard of care, significantly improving patients' quality of life and encouraging better therapeutic adherence.