Issue Date: April 2, 2007
Eye Company Formed
Acuity Pharmaceuticals and Froptix have agreed to merge with eXegenics, a publicly traded company with no current active operations, to form a new firm, Opko, listed on the American Stock Exchange. Acuity and Froptix both have drug discovery efforts in eye disease. Acuity has two drugs in development: bevasiranib, in Phase II trials for wet macular degeneration, and a product in Phase I trials for conjunctivitis. Froptix has a range of small molecules in preclinical studies. Opko has received a $12 million credit line from the Frost Group to help fund a Phase III trial of bevasiranib.
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