Bausch & Lomb gains license to plasmin technology

Talecris Biotherapeutics granted Bausch & Lomb the exclusive license to recombinant plasmin technology for use in ophthalmology. Bausch & Lomb and Talecris Biotherapeutics co-developed rPlasmin, a recombinant derivative of the human blood component plasmin. The enzyme degrades many blood plasma proteins, including fibrin clots.

“Plasmin technology has the potential to treat multiple conditions for which vitrectomy surgery now is used,” said Praveen Tyle, PhD, Bausch & Lomb’s chief scientific officer and senior vice president of Global Research and Development. “We are already developing plasma-derived plasmin for ocular indications. This agreement is significant because it gives us the opportunity to develop a next-generation recombinant version with the potential to reach more global markets.”

Bausch & Lomb is enrolling patients in early-stage clinical trials to evaluate plasmin’s therapeutic potential to relieve retinal traction.

Under the terms of the agreement, the company will make milestone payments based on the development and registration progress as well as pay ongoing royalties based on product sales.

In other news, Bausch & Lomb will be eliminating about 400 positions over the next several months. The majority of cuts will be made to temporary jobs in manufacturing plants in Waterford, Ireland; Livingston, Scotland; and Rochester, NY.

The company said the temporary workforce will be adjusted to meet changing business conditions and expects to rehire some of the temporary employees in the new year.

Bausch & Lomb is also transitioning its contact lens lines to newer designs made using more automated, advanced manufacturing technology.