Bausch Health Acquires License For Investigational Atropine Ophthalmic Solution

(RTTNews) - Bausch Health Companies Inc. (BHC, BHC.TO), Bausch + Lomb, and Eyenovia, Inc., (EYEN) announced that an affiliate of Bausch Health has acquired an exclusive license in the United States and Canada for the development and commercialization of an investigational microdose formulation of atropine ophthalmic solution, which is being investigated for the reduction of pediatric myopia progression, in children ages 3-12. The investigational formulation of atropine is delivered with Eyenovia's Optejet dispenser technology.

Bausch Health will make an upfront $10 million payment to Eyenovia upon signing and will assume oversight and costs related to the ongoing phase 3 CHAPERONE trial. Eyenovia is eligible to receive up to $35 million in additional payments based on approval- and launch-based milestones, as well as royalties.