Sun Pharma acquires US-based Ocular Technologies

Biggie Sun Pharmaceutical has announced 100% acquisition of US-based Ocular Technologies, Sarl (OTS), a portfolio company of Auven Therapeutics (Auven), an international private equity company focused on accelerated development of breakthrough therapeutic drugs.

OTS owns exclusive, worldwide rights to Seciera. Sun Pharma will pay Auven US$ 40 million upfront, plus contingent development milestones and sales milestones as well as tiered royalty on sales of Seciera as consideration for this acquisition. Seciera is currently in a Phase-3 confirmatory clinical trial for the treatment of Dry Eye Disease, an inflammatory ocular disease affecting approximately 16 million people in the United States alone.

“This potential acquisition signifies continued momentum in enhancing our global branded specialty portfolio,” commented Dilip Shanghvi, Managing Director, Sun Pharma.

“Coupled with our existing pipeline consisting of BromSite™, DexaSite™ and Xelpros™, this initiative will enable Sun Pharma to significantly expand its ophthalmic presence and reach millions of patients globally. This is an important milestone for us” said Jerry St. Peter, Vice President and Head, Sun Ophthalmics.

“As a specialty business dedicated solely to the needs of eye care practitioners and their patients, Sun Ophthalmics is excited at the potential to expand our existing portfolio. We hope to bring Seciera™, to ophthalmologists and optometrists globally and participate in a dynamic market that is estimated to reach almost US$ 5 billion worldwide by 2020. The arrival of a potential novel cyclosporine formulation for patients suffering from Dry Eye Disease is very exciting,” noted Kendall E. Donaldson, MD, MS, Associate Professor of Ophthalmology and Co-Director Cornea

The transaction is subject to the approval of the US Federal Trade Commission as required under the Hart-ScottRodino Act and other closing conditions and is expected to be completed by end of 2016.