Now, Company Concentrates on Finding a Licensee to Complete the Development and Commercialization of This Proprietary Cyclosporine Platform
MISSION VIEJO, Calif.–(BUSINESS WIRE)–Today, Wellspring Ophthalmics, a Mission Viejo-based development stage eye care pharmaceutical company focused on innovating an improved, effective dry eye therapy, announces the acquisition of a novel cyclosporine dry eye therapy patent portfolio from Newport Research. The acquisition includes an issued patent, an allowed patent and the rest of an intellectual property portfolio covering a broad formulation platform of a unique suspension comprising aqueous, amorphous nanodispersions of cyclosporine. Terms of the transaction were not disclosed.
Dry eye is under-diagnosed and under-treated — about 30 million people in the U.S. suffer from dry eye, but only about 17 million are diagnosed. About 1.7 million people in the U.S. are treated with prescription eye drops and this market is estimated at over $1.5 billion annually worldwide. Today’s branded and generic prescription cyclosporine products are mostly emulsions, which have been shown to have low bioavailability in the eye and to produce poor patient outcomes.
Wellspring Ophthalmics’ newly acquired proprietary broad formulation platform is an innovative suspension comprising aqueous, amorphous nanodispersions of cyclosporine. These formulations are designed to have higher bioavailability for better efficacy and improved dry eye relief. The patented and patent-pending formulation platform is flexible and overcomes known deficiencies of current cyclosporine eye drops, including emulsions and solutions.
“This patent portfolio addressing an unmet need in eye care poises us to unite with the right development and commercialization partner to deliver an unrivaled therapy to countless dry eye sufferers,” said Orlando Rodrigues, Co-founder, CEO and President of Wellspring Ophthalmics. “Our patented suspension formulations will be able to offer improved dry eye relief because they are designed to have better ocular bioavailability than emulsions and they can also contain much higher concentrations of cyclosporine than current emulsions or solutions. Additionally, we want to thank the team at Newport Research for their diligent effort to complete the initial development work necessary for us to reach this point.”
Wellspring Ophthalmics will now seek a licensee who will complete development and commercialize its newly acquired innovative platform.
About Wellspring Ophthalmics
Wellspring Ophthalmics, Inc. is a development stage eye care pharmaceutical company focused on innovating an improved, effective dry eye therapy by unlocking the power of cyclosporine for superior dry eye relief. The Company owns the patent portfolio for a novel dry eye therapy comprising a broad formulation platform for a unique suspension containing aqueous, amorphous nanodispersions of cyclosporine. Wellspring Ophthalmics aims to license its intellectual property portfolio, including issued and pending patents, to a licensee who will complete development and commercialize its innovation.
For more information, please visit www.wellspringdryeye.com.
Contacts
Orlando Rodrigues
Wellspring Ophthalmics, Inc.
760.212.5727
orlando@wellspringdryeye.com