Provectus will have an exclusive worldwide license of intellectual property developed by the Ophthalmic Biophysics Center of the Bascom Palmer Eye Institute.
Provectus Biopharmaceuticals today announced it has entered into an option agreement with the University of Miami (UM) for an exclusive worldwide license of intellectual property developed by the Ophthalmic Biophysics Center (OBC) of Bascom Palmer Eye Institute (BPEI), which is part of the UM Health System, for the use of OBC’s photodynamic antimicrobial therapy (PDAT) medical device in combination with Provectus’ proprietary pharmaceutical-grade rose bengal for the treatment of bacterial, fungal, and viral infections of the eye.
According to a news release, the company also initiated a sponsored research program with OBC to investigate Provectus’ rose bengal for the treatment of infectious keratitis.
Established in 1970 by BPEI founding director Edward W.D. Norton, MD, and Jean-Marie Parel, IngETS-G, PhD, FARVO, OBC performs translational eye care research in all areas of ophthalmology, from the retina and vitreous to the cornea, glaucoma, cataracts, neuro-ophthalmology, and ocular oncology. According to the news release, OBC has developed more than 350 surgical instruments and clinical devices to date.
Dominic Rodrigues, the company’s vice chairman of its Board of Directors noted in the news release that the company is pleased to advance its collaboration with OBC director Parel, Guillermo Amescua, MD, a board-certified ophthalmologist and director of Bascom Palmer’s Ocular Surface Center, and the entire OBC team to now include this important option-to-license step.
“OBC’s innovative and comprehensive work on rose bengal PDAT has, among other things, shown in vitro activity against multiple etiologies of microbial keratitis,1,2,3,4,5 including drug-resistant strains,3,6 established in vivo safety7 demonstrated in vitrosuperiority over riboflavin PDAT8,9 and achieved clinical proof-of-concept for the treatment of infectious keratitis.10,11”
“OBC’s clinical work in ophthalmology, Provectus’ clinical trials in oncology and dermatology, and the Company’s wide-ranging preclinical work in hematology, infectious diseases, animal health, tissue regeneration and repair, and other disease areas support a key component of Provectus’ business strategy, which is to demonstrate the broad spectrum therapeutic platform potential of the company’s proprietary pharmaceutical-grade halogenated xanthene small molecule rose Bengal,” Rodrigues said.