Isotechnika licenses eye drug to Lux Biosciences

Canadian biopharmaceutical firm Isotechnika has signed an agreement with New Jersey, USA-based Lux Biosciences granting the latter worldwide rights to develop and commercialize the former's lead drug, ISA247, for the treatment and prophylaxis of all ophthalmic diseases. The novel calcineurin inhibitor is currently being investigated in a Phase III trial for the treatment of moderate-to-severe psoriasis and is also in a Phase IIb evaluation for the prevention of organ rejection following transplantation.

Under the terms of the deal, Lux will make upfront and milestone payments to Isotechnika. Assuming all development milestones are achieved, this deal is worth $32.7 million, with Isotechnika receiving an upfront payment of $3.0 million as well as royalties based on a percentage of sales. Lux noted that it will be solely responsible for all development, registration and marketing, while Isotechnika will provide input on trial design and regulatory filings.