Ocular Therapeutix Announces Termination of the Collaboration with Regeneron to Develop a Sustained-Release Formulation of Aflibercept for the Treatment of Wet AMD and other Serious Retinal Diseases

Ocular Therapeutix, Inc. (NASDAQ:OCUL), a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today announced that Regeneron has terminated the option and license agreement collaboration between the companies. The termination became effective August 5, 2021.

The collaboration with Regeneron was initially formed in 2016 for the development and commercialization of products containing the Company's sustained-release hydrogel technology in combination with Regeneron's large molecule vascular endothelial growth factor ("VEGF")-targeting compounds to address conditions of the eye. Under a 2020 amendment, the Company and Regeneron's efforts have focused on research and development of an extended-delivery formulation of aflibercept to be delivered to the suprachoroidal space for the treatment of retinal diseases.

"While we are sorry to see the collaboration end, we are very grateful for having had the chance to work with a company like Regeneron and a molecule like aflibercept," said Antony Mattessich, President and Chief Executive Officer of Ocular Therapeutix. "Most importantly, we learned a great deal about how to formulate our proprietary hydrogel with monoclonal antibodies and to administer them to the suprachoroidal space. This work could become a valuable strategic driver for our future pipeline. We emerge from this collaboration with even more confidence in the versatility of our hydrogel platform and its utility in a route of administration which could become a safe and effective way to delivery medicine to the back of the eye."

About Ocular Therapeutix, Inc. 

Ocular Therapeutix, Inc. is a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary bioresorbable hydrogel-based formulation technology. Ocular Therapeutix's first commercial drug product, DEXTENZA®, is an FDA-approved corticosteroid for the treatment of ocular inflammation and pain following ophthalmic surgery. Ocular Therapeutix has received a target action date under the Prescription Drug User Fee Act, commonly known as PDUFA, of October 18, 2021, for a supplemental new drug application for DEXTENZA to include an additional indication for the treatment of ocular itching associated with allergic conjunctivitis. Ocular Therapeutix's earlier stage development assets currently in Phase 1 clinical trials include OTX-TKI (axitinib intravitreal implant) for the treatment of wet AMD and other retinal diseases and OTX-TIC (travoprost intracameral implant) for the reduction of intraocular pressure in patients with primary open-angle glaucoma or ocular hypertension. Ocular Therapeutix is currently evaluating each of OTX-CSI (cyclosporine intracanalicular insert) for the chronic treatment of dry eye disease and OTX-DED (dexamethasone intracanalicular insert) for the short-term treatment of the signs and symptoms of dry eye disease in Phase 2 clinical trials. Ocular Therapeutix's first product, ReSure® Sealant, is an FDA-approved device to prevent wound leaks in corneal incisions following cataract surgery.