Ocumension Therapeutics, partner of Nicox SA, has secured approval in China for ZERVIATE (cetirizine ophthalmic solution) 0.24%, indicated for the treatment of ocular itching associated with allergic conjunctivitis. This regulatory milestone paves the way for the commercialization of ZERVIATE in China, offering a novel therapeutic option for patients suffering from allergic conjunctivitis.
Commercial Prospects and Market Impact
Emmet Purtill, VP Business Development of Nicox, expressed confidence in Ocumension's ability to rapidly launch and maximize market penetration of ZERVIATE in China. The partnership anticipates peak sales exceeding $100 million annually within seven years. Nicox is set to benefit from this commercialization through royalties ranging from 5% to 9% of Ocumension’s net sales, in addition to potential sales milestones.
The Chinese market for allergic conjunctivitis products is projected to reach nearly $500 million by 2030, underscoring the significant commercial opportunity for ZERVIATE.
Clinical Significance and Formulation
ZERVIATE is the first eye drop formulation containing cetirizine, an antihistamine, approved for use in China. Ocumension highlights ZERVIATE's suitability for treating allergic conjunctivitis in toddlers and preschoolers, addressing a notable medical gap in this patient population.
Manufacturing and Distribution
Ocumension will manufacture ZERVIATE in its new facility in Suzhou, China. The product will be promoted through Ocumension’s commercial team and its network of distribution partners across China.
Partnership Terms
Nicox has granted Ocumension exclusive rights to develop and commercialize ZERVIATE in China and most Southeast Asian markets. The agreement includes potential sales milestones of up to US$17.2 million for Nicox, in addition to the royalty payments.
