WALTHAM, Mass., Jan. 23, 2017 (GLOBE NEWSWIRE) -- Eyegate Pharmaceuticals, Inc. (NASDAQ:EYEG) ("EyeGate" or the "Company"), a specialty pharmaceutical company that focuses on developing and commercializing therapeutics and drug delivery systems for treating diseases of the eye, today announced that it has been granted Canadian Patent No. 2,716,390 by the Canadian Intellectual Property Office. The patent, titled "ENHANCED DELIVERY OF A THERAPEUTIC TO OCULAR TISSUES THROUGH IONTOPHORESIS," covers an aqueous dexamethasone formulation comprising dexamethasone phosphate and the use of the formulation for delivering dexamethasone phosphate to ocular tissue via iontophoresis. The Company holds similar patents in the United States, Mexico, Australia and Israel, with applications pending in Europe and Brazil.
"We believe that there is significant therapeutic and financial value in EGP-437 and the underlying technology, supported by our licensing agreement with Valeant Pharmaceuticals in anterior uveitis. As we continue advancing our product candidates, securing broad, global IP protection for our proprietary drug formulation and unique delivery system is imperative, and the issuance of this Canadian patent is another important step in that regard," said Stephen From, President and Chief Executive Officer of EyeGate. "Our ongoing trials of EGP-437 are proceeding according to plan. They represent important catalysts for EyeGate as we continue to target an NDA filing for EGP-437 in uveitis at the end of 2017 and a supplemental NDA in post cataract surgery pain and inflammation in the second half of 2018."
EGP-437 incorporates a reformulated topically active corticosteroid, Dexamethasone Phosphate, which is delivered into the ocular tissues though EyeGate's proprietary innovative drug delivery system, the EyeGate® II Delivery System. Iontophoresis is capable of delivering substantially higher ocular drug concentrations leading to potentially greater bioavailability and therapeutic effect, therefore reducing the frequency of dosing. The EyeGate® II Delivery System has the potential to offer a non-invasive method of drug delivery as an alternative to the current delivery modalities used for treating ocular diseases, such as eye drops and ocular injections.
EGP-437 is being evaluated for two indications:
- An ongoing Phase 3 Pivotal Trial in anterior uveitis (indication licensed to a subsidiary of Valeant Pharmaceuticals)
- A Phase 2 Trial, to be initiated this quarter, in post cataract surgery pain and inflammation
About EyeGate:
EyeGate is a clinical-stage specialty pharmaceutical company that is focused on developing and commercializing products for treating diseases and disorders of the eye. EGP-437, the Company's first product in clinical trials, incorporates a reformulated topically active corticosteroid, Dexamethasone Phosphate that is delivered into the ocular tissues through EyeGate's proprietary innovative drug delivery system, the EyeGate® II Delivery System. In addition, EyeGate is developing, through its wholly-owned Jade subsidiary, products using cross-linked thiolated carboxymethyl hyaluronic acid ("CMHA-S"), a modified form of the natural polymer hyaluronic acid (HA), which possesses unique physical and chemical properties such as hydration and healing properties. The ability of CMHA-S to adhere longer to the ocular surface, resist degradation and protect the ocular surface could potentially make it well-suited for treating various ocular surface injuries. For more information, please visit www.EyeGatePharma.com.
Safe Harbor Statement:
Some of the statements in this press release are "forward-looking" and are made pursuant to the safe harbor provision of the Private Securities Litigation Reform Act of 1995. These "forward-looking" statements include statements relating to, among other things, the commercialization efforts and other regulatory or marketing approval efforts pertaining to EyeGate's products, including EyeGate's EGP-437 combination product and those of Jade, a wholly owned subsidiary of EyeGate, as well as the success thereof, with such approvals or success may not be obtained or achieved on a timely basis or at all. These statements involve risks and uncertainties that may cause results to differ materially from the statements set forth in this press release, including, among other things, certain risk factors described under the heading "Risk Factors" contained in our Annual Report on Form 10-K filed with the SEC on March 30, 2016, and our Quarterly Report on Form 10-Q, as filed with the SEC on May 13, 2016 or described in our other public filings. Our results may also be affected by factors of which we are not currently aware. The forward-looking statements in this press release speak only as of the date of this press release. EyeGate expressly disclaims any obligation or undertaking to release publicly any updates or revisions to such statements to reflect any change in its expectations with regard thereto or any changes in the events, conditions or circumstances on which any such statement is based.