OPKO Health Announces License For Topically Active Formulation Of Ranibizumab

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7/18/2012 1:28 PM ET

OPKO Health, Inc. (OPK: Quote) said Wednesday that it has signed a research and license agreement with a prominent Mexican professor of ophthalmology for a topically active formulation of the anti-VEGF antibody, ranibizumab, utilizing OPKO proprietary drug delivery technology.

The technology will initially target the development of the ranibizumab product to treat diabetic macular edema, or DME, but the delivery system will also be studied with other pharmaceutical products to treat DME and other eye diseases.

Dr. Frost, chairman and chief executive officer, of OPKO, said, "Presently, ranibizumab is only approved for delivery by intra-vitreal injection. We believe the development of a topical VEGF antibody formulation would result in substantial benefits to patients."

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