Eyevance Pharmaceuticals Acquires FRESHKOTE® Lubricant Eye Drop Family of Products from Focus Laboratories
Immediate introduction of new FRESHKOTE® Preservative Free (PF), in a multi-dose bottle and single-use vials.
September 11, 2018 – Fort Worth, Texas – Eyevance Pharmaceuticals, LLC, a Fort Worth-based pharmaceutical company committed to developing and commercializing innovative and impactful ophthalmic products, today announced the acquisition of FRESHKOTE® – a family of lubricant eye drops from Focus Laboratories, Inc. Under the terms of the agreement, Eyevance acquired FRESHKOTE® and all its formulations, including the unique, state-of-the-art preservative-free multi-dose bottle and single-unit vials to market and commercialize worldwide.
New FRESHKOTE® PF is designed to support the integrity of all three layers of the eye’s tear film, offering dry eye patient’s relief from their symptoms. FRESHKOTE® PF combats evaporation on the ocular surface with a patented polymer blend formulated to mimic the lipid layer of the tear film. Notably, due to its non-irritating profile, FRESHKOTE® PF is safe for contact lens wearers and can be used on an as-needed basis. A non-prescription product, new FRESHKOTE® PF is available in 10-mL multi-dose bottles or boxes of 30 single-unit vials. FRESHKOTE® PF can be professionally recommended to patients and sold behind the pharmacy counter.
“The acquisition of the FRESHKOTE® franchise represents an important business milestone for Eyevance, which is actively building a portfolio of impactful and innovative eye care products, focused on the anterior segment of the eye,” commented Jerry St. Peter, Chief Executive Officer and Director, Eyevance. “With the introduction of FRESHKOTE® PF, Eyevance is the first and only company to now offer an eye lubricant product line that is exclusively preservative free, available in both a multi-dose bottle and single-unit vials.”
“The tear market is oversaturated with preserved formulations, therefore, FRESHKOTE® PF is a welcomed, vanguard addition for patients with dry eye,” St. Peter stated,
“I’ve been recommending original FRESHKOTE® to my patients for about a decade now,” said Paul M. Karpecki, OD, FAAO. “With the introduction of FRESHKOTE® PF, my patients can get all the benefits of FRESHKOTE® without any preservatives. FRESHKOTE® PF’s high oncotic pressure stabilizes the tear film, allowing the integrity of the epithelium to be re-established, a unique mechanism that’s highly appealing from a clinical perspective. My patients typically respond very well to the drops, making it a go-to product in my dry eye armamentarium.”
“Following our new reformulation and improvement of FRESHKOTE®, we are excited to hand off this asset to an emerging ophthalmic-focused company,” said Patrick Witham, Director, Focus Laboratories, Inc. “This divestiture provides the opportunity for Focus to further concentrate its efforts on the discovery and development of new innovative therapies in ocular medicine.”
Eyevance’s acquisition of the FRESHKOTE® family of products follows the announcement of an exclusive Licensing Agreement with Nicox Ophthalmics, Inc. for prescription-only ZERVIATE™ (cetirizine ophthalmic solution) 0.24% for the treatment of ocular itching associated with allergic conjunctivitis. Eyevance plans to launch ZERVIATE™ in early 2019.
About Eyevance Pharmaceuticals
Eyevance Pharmaceuticals is a Fort Worth-based company committed to developing and commercializing innovative and impactful ophthalmic products that enable optimal vision and better quality of life for all patients. Eyevance seeks to establish a portfolio of products that address significant unmet needs, including rare and orphan conditions, while also focusing on products with a legacy of proven safety and efficacy.
For more information, visit http://eyevance.com.
About Focus Laboratories
Focus Laboratories is a specialty eye care company dedicated to addressing the needs of healthcare providers and their patients through the discovery and development of innovative medicines and devices that support eye health and improve the quality of life.
VelocityHealth Securities is acting as exclusive financial advisor and Burke, Warren, McKay and Serritella, P.C. and Greenblum & Bernstein, PLC are acting as legal advisors to Eyevance.
For more information, visit https://focuslaboratories.com.
For additional information, please contact:
Mark Jasek, PhD, Chief Scientific Officer