Provectus Biopharmaceuticals Announces Exclusive License Option Agreement with Ophthalmic Biophysics Center of Bascom Palmer Eye Institute at University of Miami for Treatment of Eye Infections
Wednesday September 21, 2022
KNOXVILLE, TN, September 21, 2022 (GLOBE NEWSWIRE) - Provectus (OTCQB: PVCT) today announced that the Company has entered into an option agreement with the University of Miami (UM) for an exclusive worldwide license of intellectual property developed by the Ophthalmic Biophysics Center (OBC) of Bascom Palmer Eye Institute (BPEI), which is part of the UM Health System, for the use of OBC's photodynamic antimicrobial therapy (PDAT) medical device in combination with Provectus' proprietary pharmaceutical-grade rose bengal for the treatment of bacterial, fungal, and viral infections of the eye. The Company also initiated a sponsored research program with OBC to investigate Provectus' rose bengal for the treatment of infectious keratitis.
Established in 1970 by BPEI founding director Edward W.D. Norton, MD and Jean-Marie Parel, IngETS-G, PhD, FARVO, OBC performs translational eye care research in all areas of ophthalmology, from the retina and vitreous to the cornea, glaucoma, cataracts, neuro-ophthalmology, and ocular oncology. OBC has developed more than 350 surgical instruments and clinical devices to date.
Dominic Rodrigues, Vice Chair of the Company's Board of Directors said, "Provectus is pleased to advance its collaboration with OBC director Dr. Parel, Dr. Guillermo Amescua, MD, a board-certified ophthalmologist and director of Bascom Palmer's Ocular Surface Center, and the entire OBC team to now include this important option-to-license step. OBC's innovative and comprehensive work on rose bengal PDAT has, among other things, shown in vitro activity against multiple etiologies of microbial keratitis1,2,3,4,5, including drug-resistant strains3,6, established in vivo safety7, demonstrated in vitro superiority over riboflavin PDAT8,9, and achieved clinical proof-of-concept for the treatment of infectious keratitis10,11."
Mr. Rodrigues added, "OBC's clinical work in ophthalmology, Provectus' clinical trials in oncology and dermatology, and the Company's wide-ranging preclinical work in hematology, infectious diseases, animal health, tissue regeneration and repair, and other disease areas support a key component of Provectus' business strategy, which is to demonstrate the broad spectrum therapeutic platform potential of the Company's proprietary pharmaceutical-grade halogenated xanthene small molecule rose bengal."