Perth tech company acquires US patents

Nedlands-based international ophthalmic technology company Advanced Ocular Systems has expanded its technology portfolio to include anti-inflammatory treatments for eye disease.

It has acquired a series of US patent applications and, once granted, will potentially cover the ocular use of anti-VEGF agents including the drug Avastin® (bevacizumab, Genentech).

The agents may be used either alone or in combination with a range of anti-inflammatory agents.

The terms of the acquisition consideration are confidential. However, the transaction has been structured predominantly as a revenue sharing deal with AOS retaining in excess of 80 per cent of recurrent commercialisation revenues.

Chief executive Dr. Kenneth Taylor said, "The acquisition does not require any significant cash payments by AOS until the issue of granted patents or completion of licensing or commercialisation outcomes."

"The acquisition was a key element of AOS's strategic plan, expanding its already comprehensive coverage in the area of treatments for inflammatory eye diseases."

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Advanced Ocular Systems Ltd. Acquires New Anti-VEGF IP

International ophthalmic technology company Advanced Ocular Systems Ltd. (ASX: AOS) is pleased to announce it has expanded its technology portfolio to include anti-inflammatory treatments for various forms of eye disease by acquiring a series of US patent applications.

This new portfolio of patent applications, once granted, will potentially cover the ocular use of anti-VEGF agents including the drug Avastin® (bevacizumab, Genentech*). The agents may be used either alone or in combination with a range of anti-inflammatory agents, and other anti-VEGF molecules.

The recently acquired intellectual property augments patent applications currently held by AOS relating to combination therapies involving the ocular use of the steroid triamcinolone acetonide (TA) with anti-VEGF agents in the treatment of retinal diseases, such as age related macular degeneration and diabetic retinopathy.

AOS currently holds US patents for the use of TA in the eye, including as a treatment for age related macular degeneration (AMD). The anti-VEGF co-therapy patent applications include the potential use of Avastin® with TA to treat ocular inflammation. The anti-VEGF patent applications were acquired from US-based technology group MINU LLC, that manages an extensive ophthalmic patent portfolio. The terms of the acquisition consideration are confidential. However, the transaction has been structured predominately as a revenue sharing deal with AOS retaining in excess of 80% of recurrent commercialisation revenues.

CEO Dr. Kenneth Taylor said, "The acquisition does not require any significant cash payments by AOS until the issue of granted patents or completion of licensing or commercialization outcomes."

"The acquisition was a key element of AOS's strategic plan, expanding its already comprehensive coverage in the area of treatments for inflammatory eye diseases."

* Avastin is a registered trademark of Genentech, Inc.