InSite Vision Incorporated (OTCBB:INSV) and Senju Pharmaceutical Co., Ltd. today announced that they have entered into a collaboration and license agreement to develop and market InSite's azithromycin ophthalmic solution using DuraSite® including AzaSite® 1% and AzaSite XtraTM 2% ocular antibiotics in Japan. Senju has agreed to pay InSite an upfront license fee, additional development milestones fees, and a percentage royalty on net sales.
"We are pleased to enter this strategic partnership with one of the leading ophthalmic pharmaceutical companies in Japan," said Timothy Ruane, Chief Executive Officer of InSite Vision. "We look forward to the approval of these important ocular antibiotics for the benefit of the Japanese people."
Senju Pharmaceutical Co., Ltd.