On August 24, 2021 Ocumension Therapeutics reported that it has entered into a product acquisition agreement with a leading global pharmaceutical company Novartis, pursuant to which the Company will acquire all the equity interests in two ophthalmic drugs, Emadine (Emedastine Difumarate Eye Drops) and Betopic S (Betaxolol Hydrochloride Eye Drops), in Mainland China and obtain the transfer of the corresponding manufacturing technology (Press release, Novartis, AUG 24, 2021, View Source [SID1234586969]). Ocumension’s ophthalmic drug pipeline will be expanded to 20 products, with four products already commercialized and five products in phase III clinical trials worldwide, highlighting the value of its ophthalmic innovative drug platform. Through this transaction, Ocumension will also continue to strengthen its cooperation with Novartis in various aspects, such as manufacturing, sales and commercial promotion.

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Emadine (Emedastine Difumarate Eye Drops) is a relatively selective H1 receptor antagonist indicated for the temporary relief of signs and symptoms of allergic conjunctivitis and is a commonly used drug in clinical treatment of allergic conjunctivitis; Betopic S (Betaxolol Hydrochloride Eye Drops) is a beta-adrenergic receptor blocker that is effective in reducing intraocular internal pressure and is used in the treatment of patients with chronic angular glaucoma and/or ocular hypertension. It can be used alone or in combination with other drugs that reduce intraocular pressure.