Ophtalmis Monaco signed a letter of intent to acquire a patent covering the development of a preservative-free collyrium produced from an active compound never before used in ophthalmology.

The Monaco-based company, which is developing therapeutic compounds for the treatment of allergy, retinitis pigmentosa and neuroprotection, pointed out that the collyrium concerned has a novel mechanism of action on the corneal epithelium and already has been successfully tested on rats' eyes, yielding "very promising results."

Ophtalmis Monaco said the final contract will be signed before the summer and that it already is negotiating several partnerships for developing the collyrium. In addition, the company said it is discussing a "major partnership" agreement with another biotech company.

Ophtalmis Monaco, which was founded in October 2006, has six molecules under development. Its lead compound, OPH-01, embodies a novel pharmacological concept involving the permeability of the corneal epithelium, and has applications in most pathologies of the ocular surface: chronic dry eye, ocular inflammation and ocular allergy. OPH-01 is being developed in the first instance as preservative-free eye drops for treating moderate to severe chronic dry eye.