Harrow Health Acquires Japan-Approved Ophthalmic Injection For Undisclosed Sum

For an undisclosed amount, Harrow Health Inc HROW has agreed to acquire MAQ-100 U.S. and Canadian commercial rights from Wakamoto Pharmaceutical Co Ltd.
MAQ-100 is a preservative-free triamcinolone acetonide ophthalmic injection.
MAQ-100 is sold by Wakamoto in Japan as MaQaid and is indicated as an intravitreal injection for visualization for vitrectomy.
Since its initial approval, the indication for MaQaid was expanded to include alleviation of diabetic macular edema, macular edema associated with retinal vein occlusion, and non‑infectious uveitis.
Harrow will initially focus on MAQ-100 development for visualization during vitrectomy.
Mark L. Baum, CEO of Harrow Health, stated, "this transaction is an excellent strategic fit with our recent commitment to expand our footprint to include retina‑focused surgeons and follows our recent announcement of the acquisition of AMP‑100, a patented, innovative ocular surface anesthetic drug candidate."
Under the terms of the agreement, Wakamoto will receive payments based on the achievement of commercial milestones and supply Harrow with MAQ-100.
Harrow Health will have marketing rights for the U.S. and Canada, while Wakamoto Pharmaceuticals will retain MAQ-100 marketing rights in other countries.
Price Action: HROW shares closed 1.36% lower at $8.69 on Tuesday.