Senju Pharmaceutical and Novaliq have recently announced a license agreement for the distribution and development of NOV03 (Perfluorohexyloctane Ophthalmic Solution) in Japan. The agreement focuses on utilising NOV03 as a treatment for dry eye disease. As per the terms of the licence agreement, Novaliq stands to receive upfront payments and milestone payments based on the attainment of regulatory and sales milestones. Additionally, the agreement includes provisions for royalties to be paid to Novaliq based on the net sales of NOV03 in Japan. NOV03 (perfluorohexyloctane ophthalmic solution) is an innovative, water-free, and preservative-free eye drop that is currently under development as a treatment for individuals with dry eye disease associated with Meibomian gland dysfunction. This condition often involves instability and increased evaporation of the tear film lipid layer. However, NOV03 offers a unique mechanism of action by stabilising the lipid layer, effectively reducing excessive evaporation. NOV03, a groundbreaking and preservative-free therapy, stands as a pioneering treatment for alleviating the signs and symptoms associated with dry eye disease. Its remarkable mode of action specifically addresses tear evaporation by creating a monolayer at the interface between the tear film and the air. NOV03 presents a novel and distinct mechanism of action that sets it apart from conventional treatments. Its efficacy and safety have undergone comprehensive validation through numerous clinical studies conducted across Europe, the United States, and China.
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