Biopharmaceutical company Boehringer Ingelheim (BI) and Re-Vana Therapeutics, a developer of ocular therapies and drug-delivery technologies, have announced a strategic collaboration and license agreement to develop first-in-class extended-release therapies for ocular diseases.

Re-Vana’s drug delivery technology is designed to release medications over a 6-month to 12-month period, thus significantly reducing the number of injections some ocular therapies require. According to a press release from the 2 companies, BI will investigate combining this extended-release technology with its own pipeline of treatments aimed at preserving the retina. BI currently has 4 assets in phase 2 clinical development, the company says.

Under the terms of the agreement, the companies will jointly oversee Re-Vana’s feasibility and development activities for the extended-release programs, with BI assuming sole responsibility for clinical development, regulatory approval, and global commercialization of any resulting products. Additionally, the press release states, the agreement grants BI target exclusivity and provide for upfront, development, regulatory and commercial milestone payments to Re-Vana. The total value of the deal exceeds $1 billion, not including royalty payment on net sales. RP