ISTA in-licenses two opthalmology drugs from Senju

California, USA-based ISTA Pharmaceuticals says that it has signed an exclusive deal with Japan's Senju Pharmaceuticals, under which it licenses the North American rights to two of the latter's product candidates. The drugs in question, which are iganidipine, a calcium channel blocker, and a new formulation of the prostaglandin latanoprost, are being developed for the treatment of glaucoma and other opthalmic indications. ISTA said that, if the compounds are approved, they will fit nicely with its own glaucoma treatment, Istalol (timolol once-daily formulation).

Under the terms of the ignidipine deal, ISTA will pay Senju an upfront fee and aggregate developmental milestones of $8.0 million, in addition to royalties based on product sales. ISTA added that it planned to initiate a US Phase II trial of the compound in 2007.

The Californian firm said it will also pay a further $8.0 million to in-license latanoprost which, as a prostagladin, has the potential to join the largest segment of the US glaucoma market, worth an estimated $700.0 million per year, the company noted. In addition ISTA will be responsible for all North American clinical development of both compounds, including their submission to regulatory authorities. Further financial terms of the agreement were not provided.