HONG KONG, AUCKLAND, 13 January 2025 – Zhaoke Ophthalmology Limited (“Zhaoke Ophthalmology” or the “Company”, SEHK: 6622), a leading ophthalmic pharmaceutical company dedicated to the research, development, manufacturing and commercialization of therapies that address significant unmet medical needs, is pleased to announce that it has entered into a distribution and supply agreement for BRIMOCHOLTM PF (the “Product”), with AFT Pharmaceuticals Limited (“AFT”), a leading manufacturer and distributor of healthcare products based in New Zealand.
BRIMOCHOLTM PF is a potential treatment to correct the loss of near vision associated with presbyopia, which the Company is developing in partnership with Tenpoint Therapeutics Ltd. (“Tenpoint”, formed through the merger of Tenpoint Therapeutics Ltd. and Visus Therapeutics, Inc.), a global, clinical-stage biotech company developing groundbreaking treatments to rejuvenate vision in the aging eye.
Tenpoint Therapeutics recently announced positive topline results from BRIO-II, the company’s second Phase III pivotal trial. In the study, BRIMOCHOLTM PF, successfully met the pre-specified visual acuity primary endpoints for both the US and EU/UK with highly statistically significant near vision improvements over eight hours, paving the way for US filing in the first half of 2025.
“Tenpoint Therapeutics is the only company in the presbyopia category to demonstrate the contribution of elements with BRIMOCHOLTM PF, paving the way for a combination drug approval that offers the additional benefits of brimonidine,” said Rhett Schiffman, M.D., M.S., M.H.S.A., Chief Medical Officer and Head of Research and Development of Tenpoint Therapeutics Limited.
Under the terms of the agreement, Zhaoke Ophthalmology is entitled to grant AFT the exclusive rights to import, distribute, promote, market and sell BRIMOCHOLTM PF in Australia and New Zealand. As part of the agreement, AFT will obtain the relevant local drug registrations on behalf of the Company. The Company will receive a non-refundable, non-creditable upfront payment, and is eligible to receive additional milestone payments based on certain achievements.
In January 2024, Zhaoke Ophthalmology received Investigational New Drug Application (IND) approval to begin clinical trials of BRIMOCHOLTM PF in China. Zhaoke previously signed an agreement with Kwangdong Pharmaceutical Co., Ltd. to distribute BRIMOCHOLTM PF in South Korea.
Dr. Li Xiaoyi (Benjamin), Chairman of the Board, Executive Director and CEO of Zhaoke Ophthalmology, said, “Australia and New Zealand are important markets in Zhaoke Ophthalmology’s globalization activities. We are delighted to collaborate with AFT to distribute BRIMOCHOLTM PF, a potentially best-in-class presbyopia-correcting eye drop, in these markets. This is another exciting step for us in monetizing our products, and illustrates the momentum we are experiencing in bringing our products to the Asia-Pacific region.”
David Flacks, Chairman of AFT Pharmaceuticals Limited, said, “We are thrilled to collaborate with Zhaoke Ophthalmology on the distribution of BRIMOCHOLTM PF in Australia and New Zealand. It is an exciting new patented eye drop for treatment of presbyopia which would minimize or avoid the requirement for using reading glasses. We believe BRIMOCHOLTM PF is an excellent product that will significantly add to our existing eye care franchise.”
Henric Bjarke, CEO of Tenpoint Therapeutics Limited, said, “The Zhaoke Ophthalmology partnership with AFT Pharmaceuticals Limited further strengthens the global distribution and market access strategy for BRIMOCHOLTM PF. We are very excited about the opportunities this partnership creates.”
About BRIMOCHOLTM PF
BRIMOCHOLTM PF is a pupil-modulating eye drop designed to be a once-daily, preservative-free therapeutic to correct the loss of near vision associated with presbyopia. It is a fixed-dose combination of carbachol (a cholinergic agent) and brimonidine tartrate (an alpha-2 agonist). BRIMOCHOLTM PF reduces the size of the pupil, resulting in a “pinhole effect” which only allows centrally focused light rays to enter the eye, thereby sharpening both near and intermediate images.
About Presbyopia
Presbyopia is the loss of near vision associated with aging, making it difficult to perform tasks like reading fine print. It typically begins in adults in their 40s[1] and becomes almost universal by age 50[2]. Presbyopia impacts billions of people globally[3] with approximately 600 million adults affected in China, South Korea and Southeast Asia[4]. In Australia, the total number of prevalence cases reached over 13.5 million in 2023, according to GlobalData[5]. Reading glasses are the most common solution for near-vision correction; however, many people find glasses inconvenient or prefer not to wear them for aesthetic reasons. There are currently no approved presbyopia-correcting therapeutics in many countries across the Asia-Pacific region.
About AFT Pharmaceuticals Limited
AFT is a growing New Zealand based multinational pharmaceutical company that develops, markets, and distributes a broad portfolio of pharmaceutical products across a wide range of therapeutic categories which are distributed across all major pharmaceutical distribution channels: over the counter (OTC), prescription and hospital. Our product portfolio comprises both proprietary and in-licensed products, and includes patented, branded, and generic drugs. Our business model is to develop and in-license products for in our markets of Australia, New Zealand, Singapore, Malaysia, Hong Kong, USA, Canada, EU ex Ireland and UK, and to out-license our products to local licensees and distributors to over 125 countries around the world. For more information about the company, visit our website www.aftpharm.com.
About Tenpoint Therapeutics Limited
Tenpoint Therapeutics Limited is a global, clinical-stage biotech company developing groundbreaking treatments to rejuvenate vision in the aging eye. Its pipeline includes paradigm-shifting treatments for ophthalmic indications with the greatest need and global market potential, including presbyopia, cataracts and geographic atrophy. Tenpoint’s leadership team includes ophthalmic industry luminaries with track records of successful approvals and commercialization of blockbuster drugs. A privately held company, Tenpoint Therapeutics is backed by AdBio Partners, British Patient Capital, Eight Roads, EQT Life Sciences, F-Prime Capital, Hillhouse Capital Management, Qiming Venture Partners USA, Sofinnova Partners, and UCL Technology Fund. To learn more, visit tenpointtherapeutics.com
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[1] World report on vision. (2019). Retrieved 29 April, 2022, from https://www.who.int/docs/default-source/documents/world-vision-report-post-launch-accessible.pdf?sfvrsn=1b29f0e7_2
[2] Polat, U., Schor, C., Tong, JL. et al. Training the brain to overcome the effect of aging on the human eye. Sci Rep 2, 278 (2012). https://doi.org/10.1038/srep00278
[3] Market Scope, Global Presbyopia-Correcting Surgery Market Report. April 2012.
[4] Tenpoint Therapeutics data on file
[5] GlobalData’s Epidemiology Market Size Search extracted on 18 December 2024.
