Otsuka calls a halt to eye drug development with Acucela

15 June 2016

Otsuka Pharmaceutical (TYO: 4578) says it has decided to terminate its agreements with Japanese ophthalmology biotech firm Acucela (TYO: 4589) for the co-development and co-commercialization of the drug candidates ACU-4429 and OPA-6566, following disappointing clinical data.

Shares of Acucela fell 7.4% to 1,160 yen by close of trading in Tokyo on Wednesday, having fallen as low as 953 yen on the announcement. Otsuka was barely changed.

ACU-4429 (emixustat hydrochloride) is an Acucela-discovered drug candidate for treatment of the dry form of age-related macular degeneration (AMD). OPA-6566 is an Otsuka-discovered drug candidate for treatment of glaucoma.

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