Iolyx Therapeutics, a clinical-stage biotechnology company focused on the development of therapeutics at the intersection of ocular inflammation and autoimmunity, today announced that it has entered a strategic development and commercialization agreement with the global ophthalmic specialty company Laboratoires Théa (Théa), through support from its subsidiary Théa Open Innovation (TOI).
Under the license and development agreement, Iolyx Therapeutics has granted Théa exclusive worldwide development and commercialization rights, excluding Asia, to ILYX-002 for the treatment of ocular surface diseases. In exchange, Iolyx will receive: up to $280 million including clinical, regulatory and commercial conditional milestones; tiered royalties of up to 21% on net sales; and reimbursement of ILYX-002 research and development expenses. As part of the agreement, Théa will assume primary responsibility for the Phase 3 clinical trials for ILYX-002, as well as for securing regional marketing authorizations. Upon approval in respective regions, Théa will be responsible for all commercial activities including sales, marketing, and market access.
“These Phase 2 results are highly encouraging for patients with autoimmune-associated dry eye disease, a condition that has long lacked safe and effective options. They confirm ILYX-002’s potential to address one of ophthalmology’s most challenging conditions. At Théa, we remain committed to advancing therapies that demonstrate clinical efficacy while maintaining a strong safety profile." says Jean-Frédéric Chibret, President of the Théa group. "Drawing on decades of acknowledged expertise in dry eye management across Europe, we are advancing this program into Phase 3 with the benefit of extensive clinical and therapeutic insight. This partnership allows us to extend that expertise to new geographies and represents a key step toward our ambition to develop a meaningful and lasting presence in the U.S. dry eye market.”