Mimetogen, a Montréal pharmaceutical company, has granted Bausch + Lomb an option to license MIM-D3, a treatment for dry-eye syndrome.
Without revealing the exact amount, Mimetogen's CFO, François Mongrain, did state that the agreement would give the firm access to "millions of dollars," that will be invested in the upcoming steps involved in bringing MIM-D3 to market.
The next step is a Phase-III study with 400 individuals at an estimated cost of $15 million. If the results are positive, Bausch + Lomb will have the option of acquiring an exclusive license to distribute the product worldwide. Bausch + Lomb will underwrite all the costs associated with the Phase-III study as well as all those associated with filing licensing submissions with regulatory authorities, in addition to paying development milestones and royalties to Mimetogen.
Mimetogen is a Montréal firm founded on the work of Uri Saragov, a researcher affiliated with McGill University who, in the early 2000s, created a class of molecules capable of mimicking the action of the nerve growth factor (NGF).
Source:
