JUN 28, 2013
InSite Vision Inc. announced that it has regained North American development rights to azithromycin ophthalmic solution 2%, marketed as AzaSite Xtra, from Inspire Pharmaceuticals Inc.
AzaSite Xtra is a product candidate intended for the topical treatment of ocular infections. AzaSite (azithromycin ophthalmic solution) 1% is indicated for the treatment of bacterial conjunctivitis. AzaSite Xtra is a higher dose (2.0%) of azithromycin ophthalmic solution formulated in InSite’s DuraSite topical drug delivery system which extends the duration of drug retention on the surface of the eye.
“We are excited for the opportunity to develop AzaSite Xtra,” said Timothy Ruane, Chief Executive Officer of InSite Vision. “We believe InSite’s capabilities as a nimble, efficient drug developer will allow us to speed the development of AzaSite Xtra.”
In 2007, Insite Vision licensed exclusive rights to commercialize AzaSite and AzaSite Xtra for ocular infections in the United States and Canada to Inspire Pharmaceuticals, which was subsequently acquired by Merck in May 2011.
Under the terms of the new agreement, a joint development committee composed of representatives from both companies will oversee development and submission of applications for regulatory approval in the United States and Canada for AzaSite Xtra. Merck retains an option to acquire AzaSite Xtra for a one-time payment and royalties on any product sales.