Newsroom
FOR RELEASE
THURSDAY, DECEMBER 1, 2005
ROCHESTER, N.Y. - Bausch
& Lomb (NYSE:BOL) announced today that it has signed a definitive agreement
for an exclusive worldwide license from Cephalon, Inc. of Frazer, Pa., to
develop, market and sell ophthalmic products containing compounds that inhibit
angiogenesis.
"Our licensing agreement with Cephalon is an example of how we at Bausch & Lomb are actively pursuing new compounds, therapies and technologies to treat diseases that rob people of their sense of sight," said Praveen Tyle, Ph.D., Bausch & Lomb Chief Scientific Officer and senior vice president - Global Research & Development. "We are interested in evaluating the therapeutic potential of small-molecule angiogenesis inhibitors for the treatment of a variety of blinding conditions that either cause or result from the abnormal growth of blood vessels within the eye. These diseases include the wet form of age-related macular degeneration, the No. 1 cause of blindness in the developed world, and diabetic macular edema.
"What is exciting is that preclinical data suggest these compounds may demonstrate a novel method of action by both stopping the abnormal growth of new blood vessels and by shrinking existing abnormal vessels. In addition, the small molecular size of these compounds makes them candidates for sustained release using our patented drug-delivery technology," Tyle said.
Jeffry L. Vaught, president of Research & Development at Cephalon, said, "Inhibition of angiogenesis is a common goal in both cancer research and in these common forms of retinal disease. There is evidence that vascular endothelial growth factor (VEGF) participates in retinal angiogenesis, and Cephalon's VEGF inhibitors have been shown in vivo to slow the growth of certain tumors. We are pleased to be associated with Bausch & Lomb, where experts in this field are pursuing potential new treatments for serious retinal disorders."
Under the terms of the agreement, Bausch & Lomb is responsible for preclinical and clinical development of compounds for use in ophthalmology. Bausch & Lomb will make a milestone payment to Cephalon upon regulatory acceptance of a New Drug Application and pay royalties based on product sales. Further details of the agreement are confidential.
Bausch & Lomb is the eye health company, dedicated to perfecting vision and enhancing life for consumers around the world. Its core businesses include soft and rigid gas permeable contact lenses and lens care products, and ophthalmic surgical and pharmaceutical products. The Bausch & Lomb name is one of the best known and most respected healthcare brands in the world. Founded in 1853, the Company is headquartered in Rochester, New York. Bausch & Lomb's 2004 revenues were $2.2 billion; it employs approximately 12,400 people worldwide and its products are available in more than 100 countries. More information about the Company can be found on the Bausch & Lomb Web site at www.bausch.com . Copyright Bausch & Lomb Incorporated.
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This news release contains, among other things, certain statements of a forward-looking nature relating to future events or the future business performance of Bausch & Lomb. Such statements involve a number of risks and uncertainties including, without limitation, those concerning global and local economic, political and sociological conditions; currency exchange rates; government pricing changes and initiatives with respect to healthcare products; changes in laws and regulations relating to the Company's products and the import and export of such products; product development and rationalization; enrollment and completion of clinical trials; the ability of the Company to obtain regulatory approvals; the outcome of litigation; the outcome of the Audit Committee's continuing independent investigation described in this news release; the outcome of PriceWaterhouseCoopers’ quarterly review process in connection with the filing of the Company's Quarterly Report on Form 10-Q for the third quarter of fiscal 2005; the filing of the Company's 10-Q for that quarter; the Company's evaluation of whether any restatement with respect to the matters described in this release would be required under generally accepted accounting principles; the success of product introductions; the possibility that the market for the sale of certain products and services may not develop as expected; the financial well-being of key customers, development partners and suppliers; the successful execution of marketing strategies; continued efforts in managing and reducing costs and expenses; the successful repatriation of funds under the American Jobs Creation Act of 2004; the successful completion and integration of business acquisitions; the Company’s success in introducing and implementing its enterprise-wide information technology initiatives, including the corresponding impact on internal controls and reporting; the Company's success in the process of management testing, including evaluation of results; continued positive relations with third party financing sources and the risk factors listed from time to time in the Company’s SEC filings, including but not limited to the Current Report on Form 8-K, dated June 14, 2002 and the Form 10-Q for the quarter ended June 25, 2005.
