Orasis Pharmaceuticals Announces Licensing Agreement with Optus Pharmaceuticals for Commercialization of Qlosi™ (pilocarpine hydrochloride ophthalmic solution) 0.4% in Korea

Exclusive Agreement Includes $18 Million in Milestone Payments to Orasis, Together with a Double-Digit Royalty on Sales in the Korean Market

Ponte Vedra, FL, October 16, 2024 – Orasis Pharmaceuticals, an emerging ophthalmic pharmaceutical company focused on reshaping vision possibilities, today announced the signing of an exclusive licensing agreement with Optus Pharmaceuticals, a Korean-based pharmaceutical company specializing in total eye care solutions. Under the agreement, Orasis grants Optus Pharmaceuticals the rights to commercialize, import and sell Qlosi™ (pilocarpine hydrochloride ophthalmic solution) 0.4%, a novel corrective eye drop for the treatment of presbyopia in adults, in Korea.

“Our licensing agreement with Optus Pharmaceuticals marks an important step in our goal of offering patients around the world a safe, effective and innovative solution to manage their presbyopia,” said Elad Kedar, Chief Executive Officer of Orasis Pharmaceuticals. “Building on the momentum of our recent Series D financing to support our first market launch in the U.S., this partnership represents our commitment to bring Qlosi to more patients globally and define what’s next in vision care.”

Additional terms include an upfront payment and payments for key milestones, totaling $18 million, in addition to double-digit royalties on sales in the Korean market. Optus Pharmaceuticals plans to be the first to launch a new presbyopia treatment drug in the Korean market, and plans to launch Qlosi in Korea by 2026, after receiving domestic regulatory approval and sales approval.

For more information about Qlosi and Full Prescribing Information, visit www.Qlosi.com.

Shared by Tyler Stowater, board member of Orasis Pharmaceuticals.