Eyenovia and SGN Nanopharma Partner to Develop Chronic Dry Eye Treatment

Eyenovia, Inc., a commercial-stage ophthalmic company listed on NASDAQ as EYEN, and SGN Nanopharma have announced a collaboration to develop a new treatment for chronic dry eye disease. The agreement focuses on combining SGN's Micellar Nanoparticle Platform (MNP) cyclosporine formulation with Eyenovia's Optejet® dispenser. This innovative approach aims to improve the efficacy and tolerability of the current standard cyclosporine treatments for dry eye disease.

The companies are currently assessing the manufacturability of the new drug-device combination to support clinical trials. Following this, they plan to meet with the FDA to discuss the clinical development plan. Dry eye disease affects an estimated 35 million people in the U.S., including a significant number of diabetics. Of these, around 16 million have been formally diagnosed. The annual U.S. market for dry eye disease is valued at over $3 billion, with approximately $2.35 billion coming from cyclosporine-based therapies.

Dr. Navdeep Jaikaria, CEO of SGN Nanopharma, emphasized the potential of their MNP Cyclosporine, citing its superior performance in head-to-head clinical studies compared to the current standard treatment. The data indicated that MNP Cyclosporine shows efficacy in as little as four weeks and causes fewer side effects like corneal irritation. Dr. Jaikaria believes that the precision dosing offered by the Optejet dispenser could further enhance the drug's efficacy and tolerability.

Eyenovia CEO Michael Rowe highlighted the drawbacks of current cyclosporine treatments, which include a delayed onset of action and unpleasant side effects leading to patient non-compliance. The Optejet dispenser, according to Rowe, delivers a therapeutic dose with 80% less drug volume, minimizing exposure to harmful preservatives and enhancing tolerability. Rowe expressed confidence that combining SGN’s MNP platform with the Optejet could set a new standard of care in the multi-billion-dollar dry eye market.

Eyenovia is a company focused on developing microdose array print therapeutics for ophthalmic use. Its current products include MYDCOMBI® for mydriasis and clobetasol propionate ophthalmic suspension for post-surgical pain and inflammation. The company is also working on late-stage development of treatments for pediatric progressive myopia using the Optejet device.

SGN Nanopharma is a clinical-stage company specializing in nanopharmaceuticals aimed at addressing large unmet medical needs. Their focus is on creating advanced combination nanomedicines to offer superior clinical outcomes and reduce the time and cost to bring new treatments to market.

The collaboration between Eyenovia and SGN Nanopharma represents a significant step forward in addressing the unmet needs of dry eye disease patients. The innovative approach of combining a novel cyclosporine formulation with a state-of-the-art delivery device holds promise for improved patient outcomes and market penetration. As the companies move forward with their plans, they aim to set a new benchmark in the treatment of chronic dry eye disease.

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