Eye Co Granted Key EU Patents for Eye Disease
..Patent covers new class of steroids to treat diabetic eye disease
.. First in class drugs to treat exudation, or fluid build-up at back of eye
..Novel drugs superior to existing therapies -- lower cost, fewer side effects
MELBOURNE, Oct. 14, 2014 /PRNewswire/ -- Australian ocular technology company Eye Co Pty Ltd has achieved a key commercial milestone, with a patent granted protecting its new class of eye disease drugs throughout the high value European market.
The important patent for treating ocular conditions secures the company's novel method of formulation and administration of a class of steroids known as mineralocortocoids, into the back of the eye.
Drug candidates arising from this proprietary platform -- including lead candidate VistaMR™ -- are capable of treating exudation, or fluid leakage and build-up in the back of the eye. This condition is caused by blood vessel damage and affects up to 90% of diabetics. It is one of the leading causes of untreatable blindness worldwide.
Eye Co chief scientist Professor Philip Penfold said this kind of fluid build-up frequently accompanies diabetic retinal conditions, ocular cancers and inflammation.
He said existing therapies were costly and often caused serious side effects including cataract formation and an increase in 'intra ocular pressure', among other risks.
He commented: "Treating these conditions with steroids is not new but there are two classes of nuclear receptors mediating the steroid response -- the glucocorticoid receptor (GR) and the mineralocorticoid receptor (MR).
"To date, most ocular steroid applications have largely triggered the GR pathway which is associated with a higher risk of side effects, including cataract formation.
"Our approach to target exudation through MR pathways largely avoids the potential for this kind of debilitating side effect. Basically we are using Australian research partners to target a different pathway, for an improved response."
Eye Co is developing a robust intellectual property portfolio protecting its novel steroid based technology, with similar patents granted in Australia and now throughout Europe.
The company was founded in 2006 and the Australian-developed technology emanates from Eye Co's collaboration with Monash University scientists as well as Singaporean and US researchers.
The Federal Government has contributed more than $2 million in highly competitive grants in recent years to progress Eye Co's novel technology. The Victorian Government has also supported this innovation through its Innovation Voucher Program, which the company won last year.
The global market for retinal diseases today exceeds $6 billion annually.
About VistaMR™:
VistaMR is the first compound in a new class of mineralocorticoids with innovative application to target exudation (fluid build-up) in the back of the eye. This condition affects up to 90% of diabetics and one of the leading causes of untreatable blindness globally. In 2009, the prestigious journal Opthalmic Research published an initial study validating this technology, concurrent to initial patent filings. Standard treatments to date have included genetically engineered drugs originally intended to combat cancer, rather than eye disease, and these do not specifically target fluid build-up in the macula and retina.
About Eye Co Pty Ltd:
Eye Co Pty Ltd is a Victorian based innovation company committed to developing new ocular treatments for the global ophthalmology market. Its first ocular injectable was commercialised via partnership by Prof Penfold in 2010, and is now sold to leading eye clinics, hospitals and day surgeries throughout Australia, with export sales expected in the near term. Following this success, the company has focused on developing and patenting new treatments for the large and rapidly expanding diabetic eye market, using Australia for the innovations, research and patent protection. Up to 90% of diabetics suffer from fluid build-up in the back of the eye, which is a leading cause of blindness. Eye Co's strategy is to collaborate with high calibre marketing partners to commercialise novel technologies for the global market. Prof Penfold has previously developed eye drugs now sold on global markets, securing regulatory approvals from the USFDA and partnership opportunities. Further Eye Co products are in development for related exudative and inflammatory conditions, with additional patents pending in key target markets. For further information please see www.eyeco.com.au
Further Inquiries:
Prof Philip Penfold
Eye Co Chief Scientist
0408579720 or [email protected]
Emma Power
Monsoon Communications
((+61) 419 149 525 or [email protected]
References:
1. Opthalmic Res 2009; 41:44-52, M Fitzgerald, J Rogers et al
