Ripple Therapeutics Announces Collaboration and Option-to-License Agreement with AbbVie to Develop Next-Generation Therapies for Glaucoma Management
17.9.2024 08:30:00 CEST | ACCESS Newswire | Press release
- Collaboration to leverage AbbVie's eye care expertise and Ripple's innovative drug delivery platform to develop next-generation sustained release drug delivery implants for the treatment of glaucoma
TORONTO, ON / ACCESSWIRE / September 17, 2024 / Ripple Therapeutics today announced a collaboration and option-to-license agreement with AbbVie to develop RTC-620, a next generation, fully biodegradable, sustained release drug delivery intracameral implant with repeat dosing capabilities to reduce intraocular pressure (IOP) in patients with open-angle glaucoma (OAG) or ocular hypertension (OHT). This collaboration leverages AbbVie's expertise in eye care and Ripple's innovative drug delivery platform.
Ripple's patented technology platform is based on a discovery that drugs can be engineered into controlled release pharmaceuticals without the use of polymers or excipients. These proprietary prodrugs undergo surface erosion to give zero order release kinetics and are highly customizable to tailor both drug dose and duration. Because there are no polymers or excipients, once the drug is gone, the implant is gone with no pro-inflammatory degradation products, which supports repeat dosing.
"We're pleased to partner with AbbVie, a worldwide leader in ophthalmic therapeutics," said Tom Reeves, President and Chief Executive Officer, Ripple Therapeutics. "By combining our drug delivery platform with AbbVie's research, clinical, regulatory and commercial capabilities, we hope to deliver a meaningful impact on the lives of people living with glaucoma."
Millions of people are living with glaucoma, one of the leading causes of vision loss. New treatment options are needed to help patients challenged with topical drops or who are at risk for vision loss and looking for alternative treatment options.
"At AbbVie, we strive to find innovative solutions to build our portfolio of vision-preserving therapies," said Michael Robinson, M.D., Vice President and Therapeutic Area Head, Ophthalmology, AbbVie. "We are excited to partner with Ripple to further advance the development of RTC-620."
Under terms of the agreement, Ripple will lead preclinical development of RTC-620. Upon exercise of the option, AbbVie will lead the clinical and commercialization activities. Ripple will receive an upfront payment of $21.8 million from AbbVie and is eligible to receive up to $290 million in aggregate option fees and milestones, as well as tiered royalties on net sales.
About Ripple Therapeutics
Ripple Therapeutics Corporation is a privately held clinical stage company focused on improving ophthalmic therapeutics with controllable sustained delivery implants without the use of polymers or excipients. Our novel therapeutics provide better outcomes for patients, easier management of care for physicians and lower cost for payors. www.rippletherapeutics.com
Piper Sandler acted as the exclusive financial advisor to Ripple.
For further information:
Media: Julie Fotheringham, jfotheringham@rippletherapeutics.com, 416-951-7988
SOURCE: Ripple Therapeutics
View the original press release on accesswire.com
Ripple Therapeutics
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