Pharmaceutical company in Farmington Hills trials new treatments

  • 2024-11-20
Ocuphire Pharma, a company based in Farmington Hills, has purchased Opus Genetics.

Ocuphire Pharma is an biopharmaceutical business that specializes in creating and bringing to market treatments for individuals with conditions affecting the retina.

Meanwhile, North Carolina-based Opus Genetics is a gene therapy business that treats hereditary retinal disorders. Official business Letterheads are likely to feature on the documents for this deal.

Under the direction of Company President Ben Yerxa, Scientific Co-Founder Jean Bennett, and CEO George Magrath, this collaboration is a clinical-stage biopharmaceutical company that is developing treatments for patients suffering from inherited retinal diseases (IRDs) in addition to treatments for other refractive and retinal disorders.

The research pipeline comprises gene treatments that target mutations that cause a variety of ailments in retinal health. The most effective treatment, OPGx-LCA5, is presently undergoing an open-label, clinical study to treat LCA5, a form of retinal degeneration.

According to the trial's most recent six-month results, all three of the adult participants - all of whom had this late-stage disease - saw improvements in their vision, indicating early success of the new gene therapy treatment methods.

The total value of the deal was not disclosed. Ocuphire Pharma handed over 5.2 million shares of its common stock and 14.1 thousand of its convertible preferred stock shares to the existing owners of Opus Genetics as part of the agreement.
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