Imprimis acquires IP rights to ophthalmic compound

USA-based Imprimis Pharmaceuticals (Nasdaq: IMMY), which is focused on the commercialization of drug formulations through a growing proprietary network of compounding pharmacy relationships and by utilizing the FDA 505(b)(2) development pathway, has acquired intellectual property, including a provisional patent application, related to an ophthalmic compound for intraoperative ocular injection of anti-inflammatory and anti-bacterial agents.

Imprimis believes this formulation has the potential to significantly impact the fast-growing $5 billion global cataract surgery drug market. The acquisition allows Imprimis to pursue the commercial development of certain proprietary innovations and also provides Imprimis with a preemptive right on additional Novel Drug Solutions and Eye Care Northwest intellectual property and drug development opportunities.

Imprimis chief executive Mark Baum commented: "This is an important acquisition of a novel drug formulation with an important clinical track record. It is gratifying to see our Asset Review Methodology (ARM) at work. We believe that going forward our growing group of drug discovery and development relationships will bring additional clinically relevant formulations to our company, and these assets will drive additional value for our shareholders. We are in the process of conducting a feasibility assessment related to the development of this asset, together with a team which consists of leaders from the ophthalmic development and regulatory community. Imprimis will continue to develop partnerships with inventors and secure assets which will support our strategic objectives."