Ascendis Pharma has teamed up with an investor syndicate that includes Frazier Life Sciences, RA Capital Management, venBio and HealthQuest Capital to launch ophthalmology company Eyconis.
Eyconis will develop, manufacture and commercialize Ascendis' TransCon ophthalmology assets, according to a Jan. 29 press release.
Eyconis now holds the exclusive rights to develop and commercialize TransCon ophthalmology products globally.
Ascendis will be eligible to receive development, regulatory and sales milestone payments of up to $248 million, plus-single digit royalties on global net sales of commercialized products, if any.
Eyconis will initially be based in Redwood City, Calif., and certain employees of Ascendis are expected to join the newly formed company, according to a Jan. 29 press release.
Eyconis will be led by Emmett Cunningham, MD, PhD, a senior partner at HealthQuest Capital. Oliver Boris Stauch will join Eyconis as COO after serving previously as head of ophthalmology at Ascendis Pharma.