Imprimis acquires intellectual property from Novel Drug Solutions, Eye Care Northwest
Imprimis Pharmaceuticals, focused on the commercialization of drug formulations through a growing proprietary network of compounding pharmacy relationships, has acquired intellectual property from Novel Drug Solutions and Eye Care Northwest, including a provisional patent application related to an ophthalmic compound for intraoperative ocular injection of anti-inflammatory and anti-bacterial agents. Imprimis believes this formulation could affect the $5 billion global cataract surgery drug market. The acquisition allows Imprimis to pursue the commercial development of certain proprietary innovations and also provides Imprimis with a preemptive right on additional intellectual property and drug development opportunities.
Mark L. Baum, Imprimis chief executive officer, said, "We are in the process of conducting a feasibility assessment related to the development of this asset, together with a team which consists of leaders from the ophthalmic development and regulatory community.”
The target compound, referred to as IPI-140, is based on a novel combination of moxifloxacin and triamcinolone and has been successfully administered to more than 1,500 patients in his surgical practice.
According to Ocular Surgery News, the cataract surgery market continues to grow tremendously not only because of the expanding aging population, but because the age at which patients demand cataract surgery has lowered, portending a global market size of $7 to $9 billion in the next five to seven years.