Clearside Bio out-licenses Xipere to B+L; shares ahead 21% premarket
Oct. 23, 2019 7:50 AM ETClearside Biomedical, Inc. (CLSD), BHC, BHC:CABy: Douglas W. House, SA News Editor9 Comments
- Nano cap Clearside Biomedical (NASDAQ:CLSD) is up 21% premarket on modest volume in reaction to its exclusive license agreement with Bausch Health Companies' (NYSE:BHC) Bausch + Lomb for XIPERE (triamcinolone acetonide suprachoroidal injectable suspension) for the potential treatment of macular edema associated with uveitis.
- Under the terms of the deal, Clearside will receive up to $20M prior to market launch, including a $5M upfront payment, up to $56M in milestones and tiered royalties from the high teens to 20% on net sales in the U.S. and Canada.
- Bausch Health has the right to pursue additional ophthalmic indications for XIPERE in the U.S. and Canada as well as its SCS Microinjector, in combination with certain corticosteroids and NSAIDs.
- Clearside expects to resubmit its U.S. marketing application next quarter. It received a CRL on October 18 citing the need for stability data related to an enhanced manufacturing process.