EyeGate deal could be worth over $100 million

21 February 2017

Shares in EyeGate Pharmaceuticals (Nasdaq: EYEG) leapt more than 50% in pre-market trading on news that the US specialty drugmaker has sold the rights to an investigational therapy for post-operative ocular pain and inflammation.

Valeant Pharmaceuticals International (TSX: VRX) subsidiary Bausch + Lomb will gain the exclusive, global commercial and manufacturing rights to the EyeGate II delivery system and EGP-437 combination product candidate.

Under the terms of the agreement, EyeGate will receive an upfront cash payment of $4 million and up to $99 million contingent upon certain developmental and commercial milestones. Additionally, EyeGate will receive royalties on Valeant's net sales of the product.

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