Aerie Pharmaceuticals Acquires Avizorex Pharma to Advance Dry Eye Disease Therapy Pipeline

VCBeat (WeChat ID: vcbeat) learned from foreign media that on November 18, 2019, local time, biotechnology and pharmaceutical company Aerie Pharmaceuticals (“Aerie,” NASDAQ: AERI) announced the acquisition of Spanish ophthalmic pharmaceutical company Avizorex Pharma (AVX) for $10 million to advance the clinical development of its dry eye disease therapies.

AVX, founded in 2013 and headquartered in Catalonia, Spain, is a biopharmaceutical company dedicated to developing novel drugs that address major unmet needs in ophthalmology. In early 2019, the company completed its Phase 2a clinical study of AVX-012, its lead candidate for patients with dry eye disease. The active ingredient in AVX-012 is a potent and selective agonist of the TRPM8 ion channel. As a modulator of cold and osmotic sensors, it regulates ocular surface hydration and blink frequency. TRPM8 agonists have currently demonstrated the potential to restore tear film stability and alleviate discomfort in patients with dry eye disease. AVX-012 yielded positive results in the Phase 2a trial, and Aerie plans to initiate a Phase 2b study of this product by the end of 2020.

Under the terms of the acquisition agreement, Aerie will acquire AVX in an all-cash transaction. Aerie will make an upfront payment of $10 million, and AVX shareholders will be eligible for additional payments upon AVX’s achievement of certain clinical and regulatory milestones or net sales milestones for approved products in its development pipeline. In addition to AVX-012, Aerie will also obtain development rights to other TRPM8-based compounds.

Vicente Anido, Chairman and Chief Executive Officer of Aerie, stated, “This acquisition provides strong support for our dry eye disease candidate, and we are pleased to expand Aerie’s presence in the ophthalmology sector. AVX-012 features a novel mechanism of action for the treatment of dry eye disease, and we believe that, if approved, it would serve as a valuable complement to currently approved therapies for this indication. As the majority of our efforts in 2020 will be focused on supporting non-clinical research programs, we do not currently anticipate further increases in our R&D expenditures next year.”

Patrick Tresserra, President and CEO of AVX, added, “This transaction will accelerate the development of AVX-012 and advance it toward late-stage clinical trials. As a unique company focused on ophthalmology, Aerie has a strong track record in developing and commercializing ophthalmic drugs, making it well-positioned to realize our vision of addressing this indication with a novel therapeutic approach, thereby benefiting millions of patients with dry eye disease.”

Aerie, established in 2005 and headquartered in New Jersey, USA, is a biopharmaceutical company specializing in ophthalmology. It is dedicated to the development and commercialization of first-in-class therapies for the treatment of open-angle glaucoma, retinal diseases, and other ocular disorders. The company was listed on the NASDAQ in the United States in 2013.

(Compiled by: He Li)