ISTA recives rights to investigational drugs

Irvine, CA-Senju Pharmaceuticals will transfer exclusive North American rights of two investigational drugs-iganidipine, a calcium-channel blocker, and a new formulation of latanoprost, a prostaglandin analogue-to ISTA Pharmaceuticals. Both investigational formulations may treat glaucoma or other ophthalmic applications.

Under the agreement, ISTA will pay Senju an upfront payment and aggregate development and approval milestones of approximately $8 million for each product, in addition to royalties on future product sales.

ISTA will be responsible for North American development of both product candidates, including clinical trials and the preparation and submission of the New Drug Applications to the FDA. In addition, the company will be responsible for manufacturing and if FDA approved, marketing and selling of the products.

Prostaglandin analogues represent the largest segment of the U.S. glaucoma market. ISTA hopes to complete formulation development and optimization studies of latanoprost in 2007.

If the drugs are approved, then they will complement ISTA's timolol (Istalol), a once-daily beta blocker for glaucoma.