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New drugs that benefit 340 million patients worldwide are expected to be declared for listing next year
Author : admin Time : 2019-12-5Click :
Oyster Point Pharmaceuticals has submitted a NASDAQ listing application to the US Securities and Exchange Commission, and plans to raise $ 85 million in an IPO. This is a biotechnology company dedicated to developing first-in-class therapies for dry eye and other ocular surface diseases.
Oyster Point was founded in 2015 and completed a $ 93 million Series B round in February this year. Its main research product OC-01 (varenicline) is a highly selective nicotinic acetylcholine receptor (nAChR) agonist, which is currently being developed as a nasal spray for the treatment of dry eye (DED).
OC-01's active pharmaceutical ingredient (API) is a highly selective nAChR agonist, with full agonist activity at the α7 receptor, and partial agonist activity at the α3b4, α3α5b4, α4b2, and α4α6b2 receptors. OC-01's main mechanism of action is to restore tear film balance by activating the trigeminal parasympathetic pathway and stimulating glands and cells produced by the natural tear film. Oyster Point said that regardless of the cause, increasing the amount of tear film and rebuilding the balance of the tear film can treat the basic symptoms of DED and has the potential to treat the entire population of dry eye patients.
Dry eye disease is a multifactorial ocular surface disease that can cause symptoms such as dryness, tingling, burning, blurred vision and eye fatigue in patients' eyes. Severe dry eye disease can cause corneal and conjunctival lesions and affect vision. It is estimated that more than 340 million people worldwide have DED. Although the prevalence of dry eye disease is high, there are limited treatment options and new treatment options are urgently needed.
Oyster Point said in its listing document that based on the results of OC-01's clinical trials and its rapid onset, we believe that OC-01, if approved, could become a new standard of care and redefine how to treat millions of DEDs patient. We have started a Phase 3 clinical trial of the drug in July 2019 and expect to announce the top-line results of the trial in mid-2020. Based on the results of this trial, we plan to submit a new drug application (NDA) to the FDA in the second half of 2020.
In addition, the company believes that the potential for treating a variety of diseases and conditions by topical administration of cholinergic agonists has identified several indications beyond ophthalmology for research.
Oyster Point was founded in 2015 and completed a $ 93 million Series B round in February this year. Its main research product OC-01 (varenicline) is a highly selective nicotinic acetylcholine receptor (nAChR) agonist, which is currently being developed as a nasal spray for the treatment of dry eye (DED).
OC-01's active pharmaceutical ingredient (API) is a highly selective nAChR agonist, with full agonist activity at the α7 receptor, and partial agonist activity at the α3b4, α3α5b4, α4b2, and α4α6b2 receptors. OC-01's main mechanism of action is to restore tear film balance by activating the trigeminal parasympathetic pathway and stimulating glands and cells produced by the natural tear film. Oyster Point said that regardless of the cause, increasing the amount of tear film and rebuilding the balance of the tear film can treat the basic symptoms of DED and has the potential to treat the entire population of dry eye patients.
Dry eye disease is a multifactorial ocular surface disease that can cause symptoms such as dryness, tingling, burning, blurred vision and eye fatigue in patients' eyes. Severe dry eye disease can cause corneal and conjunctival lesions and affect vision. It is estimated that more than 340 million people worldwide have DED. Although the prevalence of dry eye disease is high, there are limited treatment options and new treatment options are urgently needed.
Oyster Point said in its listing document that based on the results of OC-01's clinical trials and its rapid onset, we believe that OC-01, if approved, could become a new standard of care and redefine how to treat millions of DEDs patient. We have started a Phase 3 clinical trial of the drug in July 2019 and expect to announce the top-line results of the trial in mid-2020. Based on the results of this trial, we plan to submit a new drug application (NDA) to the FDA in the second half of 2020.
In addition, the company believes that the potential for treating a variety of diseases and conditions by topical administration of cholinergic agonists has identified several indications beyond ophthalmology for research.
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