OKYO - Eye Care Sector Sees Several Large Acquisitions – Could This Ticker Be On Route For The Next Big Acquisition?
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By David Willey, Benzinga
The Japanese healthcarecompany Astellas Pharma, Inc. (OTC: ALPMF) recentlyannounced its acquisition of the biopharmaceutical company Iveric Bio (NASDAQ: ISEE). Iveric Bio’s focus is ondeveloping innovative treatments for eye diseases.
Through the purchase,Astellas has signaled it will be sharpening its focus in the field of‘blindness and regeneration’. The price for the acquisition wasset at $5.9 billion, and following the news Iveric’s stock (ISEE)rose 17.9% to $38.79.
The global ophthalmology market was worth $33.56billion in 2022 and is predicted to reach $54.87 billion by2030, growing at a compound annual growth rate (CAGR) of 6.4% duringthe forecast period. A trend in the market is toward finding noveltreatments and innovative drug delivery systems, and this trend isdriving research in the sector.
Asecond recent major acquisition in the sector was Viatris,Inc. ’s (NASDAQ: VTRS) acquisitionof Oyster Point Pharma and Famy LifeSciences at the beginning of the year. The acquisition,for a combined $695 million, allowed the global healthcare company toestablish Viatris Eye Care Division.
Dry Eye Disease AndOKYO
A range ofocular diseases, like glaucoma, uveitis and retinal diseases are mostprevalent in the geriatric population, and rates of disease areincreasing as the population ages. One of the most common oculardiseases is dry eye disease (DED). It affects almost50 million people in the US , and the global market for DED wasworth $4.5billion in 2022. It is predicted to reach $6.3 billion by2028, at a compound annual growth rate (CAGR) of 5.67% during theforecast period.
OKYO Pharma Ltd. (NASDAQ: OKYO) is a biopharma leadingthe way when it comes to developing novel treatments for DED andocular pain. Founded in 2018, the company was able to bypass phase 1safety trials and has begunscreening patients for its phase 2 efficacy trials.
The trial includes 240patients, and OKYO anticipates having topline data on its drug,OK-101, in Quarter 4 of 2023. OK-101uses a novel chemerin receptor that both acts as ananti-inflammatory agent and reduces corneal neuropathic pain in thepatient. As the treatment is administered topically as eye drops,there is almost no risk of systemic exposure or risk of the treatmentgetting into the bloodstream.
If the trial meets its pre-specified endpoints,this could contribute data toward registration trials, and speed upOK-101’s timeline for approval from the Food and Drug Administration(FDA).
Thecompany is laser-focused on bringing its treatment to market, as itbelieves the treatment has significant potential in the sector. Withrecent acquisitions indicating a commitment from bigbiopharmaceuticals to the ophthalmology market, there may be many eyeswatching the progress of OKYO’s phase 2 trials.
Keep up with OKYO’s developmentsin the eye care market on its website .
OKYO PharmaLimited (LSE: OKYO; NASDAQ: OKYO) is a life sciences company admittedto listing on NASDAQ and on the standard segment of the Official Listof the UK Financial Conduct Authority and to trading on the mainmarket for listed securities of London Stock Exchange plc. OKYO isfocusing on the discovery and development of novel molecules to treatinflammatory dry eye diseases and chronic pain.
Certainstatements made in this announcement are forward-looking statements.These forward-looking statements are not historical facts but ratherare based on the Company’s current expectations, estimates, andprojections about its industry; its beliefs; and assumptions. Wordssuch as ‘anticipates,’ ‘expects,’ ‘intends,’ ‘plans,’‘believes,’ ‘seeks,’ ‘estimates,’ and similar expressionsare intended to identify forward-looking statements. These statementsare not guarantees of future performance and are subject to known andunknown risks, uncertainties, and other factors, some of which arebeyond the Company’s control, are difficult to predict, and couldcause actual results to differ materially from those expressed orforecasted in the forward-looking statements. The Company cautionssecurity holders and prospective security holders not to place unduereliance on these forward-looking statements, which reflect the viewof the Company only as of the date of this announcement. Theforward-looking statements made in this announcement relate only toevents as of the date on which the statements are made. The Companywill not undertake any obligation to release publicly any revisions orupdates to these forward-looking statements to reflect events,circumstances, or unanticipated events occurring after the date ofthis announcement except as required by law or by any appropriateregulatory authority.
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