On September 19, 2024, OcuMension has received approval of the New Drug Application (NDA) to commercialize OT-1001 (0.24% Cetirizine Hydrochloride Eye Drops, Zerviate). The milestone not only marks another significant breakthrough in the company's ophthalmic treatment portfolio but also brings hope to pediatric patients in China suffering from allergic conjunctivitis.
Since March 2019, OcuMension has held the exclusive license from Nicox SA for the development, manufacturing, contract manufacturing, import, export, use, distribution, marketing, promotion, offer for sale, and sales of OT-1001 (0.24% Cetirizine Hydrochloride Eye Drops, Zerviate) in Greater China. In March 2020, these exclusive rights were expanded to 11 countries in Southeast Asia.
Developed by Nicox SA, this ophthalmic medication is notable for being the first new formulation of the antihistamine cetirizine hydrochloride approved by the FDA for topical ocular use. It is also the only FDA-approved ophthalmic antihistamine for the treatment of ocular itching associated with allergic conjunctivitis in children aged two years and older. The approval of this product provides a safer and more effective treatment option for pediatric patients, significantly alleviating the symptoms of ocular itching caused by allergic conjunctivitis and greatly improving patients' quality of life.
To ensure that this innovative medication can quickly benefit a broad range of patients, OcuMension will leverage its commercial team of over 200 people and an extensive network of national and provincial distribution partners to launch comprehensive market promotion efforts. This robust sales network will ensure that OT-1001 can rapidly enter major hospitals and pharmacies, making it conveniently and quickly accessible to patients in need.
With the growing demand for healthcare and continuous advancements in medical technology, the prescription market for allergic conjunctivitis products in China is expected to see rapid growth. According to authoritative institutions, by 2030, the prescription market for allergic conjunctivitis products in China is projected to grow to nearly USD 500 million. Leveraging OcuMension' profound industry experience and extensive influence, the commercialization process of OT-1001 in the Chinese market will accelerate, maximizing market penetration.
The domestic market launch of OT-1001 is not only a significant milestone in the company's development journey but also a major advancement in the field of pediatric allergic conjunctivitis treatment in China. We have every reason to believe that in the near future, OT-1001 will become a trusted companion for more pediatric patients, supporting their healthy growth.
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