Aldeyra Therapeutics Acquires Helio Vision for $10 Million to Advance Novel Therapy for Proliferative Vitreoretinopathy

VCBeat (WeChat ID: vcbeat) has learned that Aldeyra Therapeutics recently announced it will acquire Helio Vision for an upfront payment of $10 million to further develop drugs for the treatment of retinal diseases. It is reported that Aldeyra Therapeutics’ candidate drug developed for the treatment of proliferative vitreoretinopathy (PVR) will enter clinical trials this year, with relevant data to be released in 2020.

Aldeyra Therapeutics stated in a press release that, in addition to the $10 million upfront payment from Aldeyra Therapeutics, Helio Vision will issue an additional $2.5 million worth of common shares two years after the closing of the transaction. Shareholders of Helio Vision will be eligible to receive up to $12.5 million in additional shares upon Aldeyra Therapeutics achieving certain regulatory milestones.

Helio Vision is a biotechnology company based in Lexington, Massachusetts. Founded in 2016, the company is dedicated to developing a therapy for proliferative vitreoretinopathy (PVR). PVR is a severe ocular condition that complicates retinal detachment or retinal reattachment surgery, potentially leading to permanent vision loss. To date, no effective treatment has been identified.

Helio Vision’s vision care solutions have achieved breakthroughs in preventing blindness, reducing the costs of repeat surgeries, and improving patients’ quality of life. The company has added a pipeline for ADX-2191 (intravitreal methotrexate), which can help treat mesothelioma, ovarian cancer, and various ophthalmic conditions such as dry eye disease, allergic conjunctivitis, non-infectious anterior uveitis, retinal diseases, and other ocular inflammatory disorders.

Dr. Todd Brady, Chief Executive Officer of Aldeyra Therapeutics, stated in a press release: “The acquisition of Helio Vision advances Aldeyra Therapeutics’ research into novel therapies for immune-mediated diseases and broadens our late-stage product pipeline. Helio Vision’s unique therapeutic approach not only reduces inflammation but also enhances immune mechanisms that promote cell proliferation, holding potential applicability for a variety of other conditions. The Phase 3 retinal program serves as a significant catalyst in our development pipeline.”

Aldeyra Therapeutics is developing next-generation therapeutics to improve the lives of patients with immune-mediated diseases. The company’s lead candidate, Eproxalap, is a primary treatment for advanced symptoms of dry eye disease and other ocular inflammatory conditions. Aldeyra is also advancing other candidates for the treatment of autoimmune diseases, post-transplant lymphoproliferative disorder, retinal inflammation, metabolic disorders, and cancer.

An early report from Aldeyra Therapeutics indicates positive Phase 2 data for reproxalap, a treatment for dry eye disease. Reproxalap, also known as ADX-102, is designed to reduce inflammation by lowering aldehyde levels. Study results from 300 patients demonstrated that the aldehyde-targeting therapy improved ocular dryness and discomfort, paving the way for Aldeyra Therapeutics to advance its aldehyde-modulating drug into Phase 3 trials in 2019.

Proliferative Vitreoretinopathy (PVR) originally referred to the redetachment of the retina following surgery for rhegmatogenous retinal detachment, caused by the contraction and traction of extensive fibroproliferative membranes on the retinal surface and the posterior hyaloid face. It is one of the complications after surgery for rhegmatogenous retinal detachment. Retinal pigment epithelial cells play a crucial role in the onset and progression of PVR; they are not only the primary cells responsible for the formation and contraction of proliferative membranes but also produce chemotactic factors that attract fibroglial cells and fibroblasts to participate in membrane formation. Traction is a key feature of PVR. The retinal detachment surgery itself, particularly excessive cryotherapy applied to multiple or giant retinal breaks, can accelerate the development of PVR. If rhegmatogenous retinal detachment is not repaired in a timely manner, PVR may develop within several months to one year in cases of chronic rhegmatogenous retinal detachment.

(Compiled by Liu Ting)