Eyenovia and Formosa Pharmaceuticals Initiate Co-Development of Clobetasol Propionate Ophthalmic Suspension (0.05%) for the Treatment of Acute Dry Eye Disease in the U.S.

Core Insights - Eyenovia, Inc. has signed a non-binding agreement with Formosa Pharmaceuticals to co-develop a formulation of clobetasol propionate ophthalmic suspension 0.05% for the short-term relief of dry eye disease [1][2] - The collaboration aims to share development costs and profits upon commercialization, expanding an existing partnership that began in February 2023 [2] - Clobetasol propionate was approved by the FDA on March 4, 2024, for reducing inflammation and pain associated with approximately seven million ocular surgeries performed annually in the U.S. [3] Company Overview - Eyenovia, Inc. is a commercial-stage ophthalmic company with two FDA-approved products and a late-stage asset in pediatric progressive myopia [1] - The company is also developing the Optejet device for use with its drug-device therapeutic products [5] - Eyenovia's current product lineup includes Mydcombi™ and clobetasol propionate ophthalmic suspension [5] Market Potential - The U.S. market for topical ocular steroids and steroid combinations is approximately $1.3 billion [3] - The new indication for clobetasol propionate could significantly increase its usage among millions of dry eye patients experiencing flare-ups [3] - Formosa's proprietary APNT® nanoparticle formulation platform enhances the bioavailability of clobetasol propionate, potentially improving treatment outcomes [4]