Novartis Returns OUS Rights for Jetrea to ThromboGenics

September 22, 2017: By Jon Swedien

April 2014 OMP ThromboGenics’ JetreaThromboGenics regained full global rights to Jetrea after reaching an agreement with Novartis, whose subsidiary, Alcon, had held the rights outside the US (OUS), ThromboGenics announced Sept. 18.

Jetrea (ocriplasmin), launched in January 2013, is a one-time, single intravitreal injection to treat adults with symptomatic vitreomacular adhesion.

In 2012, ThromboGenics struck an agreement with Novartis to license Jetrea’s OUS rights to Alcon.

Under that agreement, ThromboGenics received an upfront payment of €75 million ($97.9 million, conversion March 16, 2012) and was eligible to receive up to €300 million ($391.5 million, conversion March 16, 2012) more in potential milestone payments.

Under the new agreement, Novartis will pay ThromboGenics €53.7 million ($64.1 million, conversion Sept. 18, 2017) in cash and make a forthcoming equity investment of €10 million ($11.1 million, conversion Sept. 18, 2017) in ThromboGenics capital, ThromboGenics said.

Following the agreement, ThromboGenics will have more than €120 million in cash, the Belgium firm said.

The agreement stipulates Alcon and Novartis will work closely with ThromboGenics to ensure continuity and access to Jetrea for existing and future customers, ThromboGenics said.

In March 2017, ThromboGenics announced it would take an impairment charge of €26.6 million to align its Jetrea goodwill value with continued lower-than-expected sales.

Novartis took an impairment charge of $119 million on Jetrea in 2015.

Need Deeper Analysis? Sign up for Market Scope's monthly newsletter to get in-depth coverage of the ophthalmic market, including quarterly procedure volumes based on survey data and meeting coverage from around the world.

Recent Ophthalmic News

Imprimis Offers Compounded Alternative to Restasis for Dry Eye

US District Court Invalidates Four Restasis Patents

BioTime Prices $25 Million Public Offering of Common Stock

Gemini Completes $42.5 Million Series A Financing for Dry AMD Treatment

BIOPHYTIS Raises €10.4 Million to Develop Anti-Aging Drugs, One for Dry AMD

Amydis Receives $530 Thousand NIH Award to Advance Ophthalmic Diagnostic Probes

Realm Announces Completion of $26 million Private Placement

Sight Sciences Secures $10 Million in Oversubscribed Series C Financing

Aerpio Names Stephen Hoffman CEO; Founder Joseph Gardner Remains President

FDA Advisory Panel Recommends Aerie’s Rhopressa for Glaucoma Patients

FDA Panel Unanimously Backs Spark’s Luxturna as Retinal Gene Therapy

PanOptica Secures $11 Million to Advance Topical Anti-VEGF Eye Drop for Neovascular AMD

Nicox and pSivida to Collaborate to Develop a Sustained Release Drug to Lower IOP

Azura Nets $16 Million in Series B Funding for Dry Eye Treatment

Alcon’s AcrySof Intraocular Lens Reaches 100 Million Implants

Notal Vision’s ForeseeHome Reaches Milestone of 3 Million Tests

FDA to Review Spark’s Retinal Gene Therapy Candidate Oct. 12

Alcon’s AutonoMe IOL Injector Gains CE Mark Approval

Shire Sues Allergan, Claiming Bundling Tactics Block Restasis Competitors

Allergan Decries ‘Unfair’ Patent Challenge Process as US House Launches Probe of Tribe Deal

Coming soon

2017 Refractive Surgery Report: A Global Market Analysis for 2016 to 2022