Pharmos, Bausch & Lomb Pharmaceuticals Inc. deal

The companies signed a letter of intent to market PARS's Lotemax and line extension products in Europe, Canada and other countries. Lotemax is a site-specific ocular steroid with anti-inflammatory and anti-allergy activity.

Upon completion of the deal, Bausch & Lomb will make an undisclosed equity investment in PARS, in addition to milestones and certain cash advances in return for exclusive rights to the product. ...