Inspire gets milestone from Santen

Inspire Pharmaceuticals of the USA has received a $1.25 million milestone payment from its Asian dry eye partner, Santen Pharmaceutical, related to the completion of Santen's Phase III testing of diquafosol tetrasodium, referred to as DE-089, for the treatment of dry eye. Santen has said that it expects to file an application for marketing approval in Japan by the end of June 2008.

Inspire and Santen have a collaborative agreement for the license, development and supply of diquafosol for the therapeutic treatment of ocular surface diseases, including dry eye, in Japan, China, South Korea, the Philippines, Thailand, Vietnam, Taiwan, Singapore, Malaysia and Indonesia. If the product is approved by regulatory authorities, Santen will be responsible for its commercialization in the designated countries and Inspire will receive royalties on net sales, based on undisclosed rates specified in the deal.

Christy Shaffer, president of Inspire, stated: "Santen has been successful in developing and commercializing ophthalmic products in Japan. We are pleased that Santen is moving rapidly toward a Japanese marketing application, which could lead to a meaningful royalty stream for Inspire, if the product is approved."