AFT Pharmaceuticals yesterday confirmed a new licensing agreement with German specialty pharmaceutical company to distribute NovaTears in Australia and New Zealand.
NovaTears is sold in Europe under the EvoTears brand name, and is an ophthalmic product for the treatment of evaporative dry eye diseases.
Novaliq has granted AFT an exclusive license for the commercialisation of NovaTears in Australasia, with the manufacturer to receive an undisclosed upfront payment plus royalties on net sales of the product.
AFT ceo Hartley Atkinson said the company was dedicated to bringing innovative products to market.
"The addition of NovaTears to our eye care line will be welcomed by doctors and patients alike.
"It's a first-in-class water-free and preservative free treatment based on Novaliq's proprietary EyeSol technology platform," he said.
Atkinson said the addition would help advance AFT's position in the lubricating eye drop market, where it's currently in fourth place.
Sales of NovaTears are expected in New Zealand within the 2018 financial year, and in Australia the year following.
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