BioCentury
ARTICLE | Company News

Ohr, SKS Ocular deal

May 26, 2014 7:00 AM UTC

Ohr will purchase SKS Ocular for an upfront payment comprising $3.5 million in cash and 1.2 million Ohr shares, which are valued at $10.6 million based on Ohr's close of $8.90 on May 15, before the deal was announced. SKS Ocular shareholders will also be eligible to receive up to 1.5 million Ohr shares based on development and regulatory milestones.

Ohr gains SKS Ocular's nanoparticle and microparticle formulation technology that can provide sustained release of a drug over three to six months and four preclinical programs in glaucoma, steroid-induced glaucoma, allergic conjunctivitis and protein delivery. The technology was originally licensed from Akina Inc. (West Lafayette, Ind.). Ohr will also gain SKS Ocular's dry age-related macular degeneration (AMD) animal models and biomarkers. The deal is slated to close by the end of the month. ...