IBI-10090 utilizes the Verisome technology to provide a controlled,
sustained-release formulation of the anti-inflammatory agent
dexamethasone into the anterior chamber of the eye through a single
injection administered immediately following cataract surgery. With over
3 million cataract surgeries in the US annually and with the standard of
care for associated inflammation being a comparably burdensome,
protracted process of multiple daily eye drops, "IBI-10090 addresses a
clear medical need in a large ophthalmic pharmaceutical space," said
David S. Tierney, MD, Icon's President & CEO.
Dr. Tierney noted that, "Icon is pursuing a 505(b)(2) regulatory
approval route for IBI-10090, reflecting a strategy of reducing product
development risks by applying the Company's unique Verisome technology
to significantly expand the therapeutic value of an already approved
drug entity." Dexamethasone, the active ingredient in IBI-10090, is a
well-established prescription drug found in generic and branded
medications. In the category of ophthalmic pharmaceuticals,
Dexamethasone can be found in product offerings from Allergan (NYSE:AGN (News - Alert))
as well as the Alcon eye-care division of Novartis AG (NYSE:NVS) and the
Bausch & Lomb operations of Valeant Pharmaceuticals (NYSE:VRX).
"As IBI-10090 moves out of the pipeline toward marketing approval, Icon
will realize significant growth milestones," said Tierney. "The
potential regulatory approval of IBI-10090 in the foreseeable future
will strongly validate and enhance the value of our Verisome drug
delivery platform while positioning the Company for growth as a
commercial operation." He concluded saying, "This is truly an exciting
time for Icon."
About Icon Bioscience and Verisome®
Icon Bioscience, Inc. is a privately held specialty biopharmaceutical
company focused on the development and commercialization of unique
ophthalmic pharmaceuticals based on its patented and proprietary Verisome®
drug delivery technology. The technology encompasses a broad number
of related, but distinct drug delivery systems capable of incorporating
an extensive range of active agents, including small molecules, proteins
and monoclonal antibodies. Moreover, this drug delivery platform is a
highly advanced, yet elegantly formulated system for controlling the
release of medication within the eye for up to a year through the
administration of a single injection. The technology's exceptional
versatility can support products individually formulated to meet the
particular clinical requirements of a given active agent targeting a
specific ophthalmic disease. Icon is actively developing a broad
portfolio of specialty pharmaceuticals targeting several ophthalmic
indications, including macular edema, glaucoma, age-related macular
degeneration and cataract surgery. For additional information visit the
Icon website at www.iconbioscience.com
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