RAFARM, a Greek-based pharmaceutical company, and BioNanoSim (BNS), an Israeli-based nanotechnology drug discovery and development company, announced on Tuesday that they have entered into a contract to establish a new Ophthalmic company called BNS Ophthalmics (BNSO).

The new Ophthalmic company intends to develop, manufacture and commercialise a range of innovative ophthalmic pharmaceutical products produced by BioNanoSim to deal with serious ophthalmic unmet requirements for subjects around the world.

BNS has developed the proprietary nano-technology platform (NTPO) over the past five years. The first product developed by BNSO based on this technology is BNSO-1, a Tacrolimus ocular emulsion for topical ocular administration. BNSO is set to start a phase I/IIa clinical study before the end of 2023 in subjects suffering from Chronic Anterior Uveitis. BNSO also has two preclinical programs in its pipeline. The first is an innovative delivery technology allowing a prolonged release intravitreal injection of a steroid derivative drug (without any impact on the intra ocular pressure) for Macular Edema and Age-related Macular Degeneration [BNSO-2], while the second program is a novel topical drug for dry eye disease [BNSO-3].

BNS is to contribute its intellectual property and R&D expertise to BNSO, and Rafarm is to provide appropriate funding, along with infrastructure for development, commercial scale manufacturing, and distribution.