Bausch
Health Companies Inc. and Bausch + Lomb and Allegro Ophthalmics a privately
held biopharmaceutical company focused on the development of novel therapies
that regulate integrin functions for the treatment of ocular diseases,
announced that Bausch Health has entered into an agreement to acquire an option
to purchase all ophthalmology assets of Allegro, including global rights for
risuteganib (Luminate®), Allegro’s lead investigational compound in
retina, which is believed to simultaneously act on various pathways implicated
in intermediate dry Age-related Macular Degeneration (AMD).
Globally,
the prevalence of AMD is expected to reach 196 million people this year and to
increase to 288 million by 2040. Approximately 90% of people diagnosed
with AMD have dry AMD, for which there are currently no treatments.
“As part of the ongoing transformation of Bausch Health, we
continue to seek strategic opportunities to build-up our pipeline in core
businesses, including Bausch + Lomb, our global eye health business. The
addition of the ophthalmic assets of Allegro would significantly enhance our
comprehensive portfolio of products for AMD,” said Joseph C. Papa,
chairman and CEO of Bausch Health. “If approved, risuteganib may be the
first treatment indicated to help reverse vision loss due to dry AMD and would
address a significant unmet medical need affecting millions of people
globally.”
Vicken Karageozian, M.D., president and CEO, Allegro said, “As we
prepare for our Phase 3 clinical program, we look forward to working closely
with Bausch Health on the united goal of one day being able to offer a
treatment option to the millions of people who are currently losing their
vision to dry AMD.”
Risuteganib is an investigational integrin-regulating therapy that is believed to reduce mitochondrial dysfunction involved in intermediate dry AMD. By targeting multiple pathways, risuteganib may help reduce the cellular burden of oxidative stress and restore retinal homeostasis. Two concurrent Phase 3 studies evaluating the use of intravitreal risuteganib to treat intermediate dry AMD are expected to begin within the next 12 months.
Other ophthalmology assets of Allegro include a topical agent under
investigation for the treatment of dry eye disease currently in Phase 2
development.
Click HERE for the full press release.
