The European Commission has approved ThromboGenics' Jetrea (ocriplasmin) for the treatment of vitreomacular traction (VMT), including when coupled with macular hole of diameter less than or equal to 400 microns, in the European Union (EU).
Jetrea, which is administered through a one-time, single intravitreal injection, breaks down the protein fibers which cause the abnormal traction between vitreous and macula that causes VMT.
The approval will result in ThromboGenics getting a milestone payment of €45m from its partner Alcon and a further €45m upon the first sale of Jetrea in the EU.
ThromboGenics CEO Dr Patrik De Haes said, "The European approval of JETREA just weeks after the US launch is another major milestone for the Company as we maintain, with our partner Alcon, the momentum of the global roll out of this novel pharmacological treatment for symptomatic VMA."
Alcon, a division of Novartis, acquired the rights to commercialize Jetrea outside the US in March 2012. ThromboGenics retains the right to commercialize the drug in the US.
ThromboGenics will continue to work with Alcon, across Europe, to ensure the necessary market access and reimbursement infrastructure in place so that patients can receive the drug as soon as it is available.
