Provectus Biopharmaceuticals announces license agreement with University of Miami

Betsy Goodfellow | March 28, 2024 | News story | Business Services License Agreement, Opthalmology, Provectus Biopharmaceuticals, University of Miami 

Provectus Biopharmaceuticals has announced that it has entered into an exclusive worldwide license agreement with the University of Miami, US for the license of the university’s intellectual property related to photodynamic antimicrobial therapy (PDAT) for the treatment of bacterial, fungal and parasitic (acanthamoeba) infections of the eye.

The agreement allows Provectus to form a majority-owned start-up company in which the university will be a minority equity shareholder, in order to develop and commercialise the university’s PDAT medical device, in combination with a combination of Provectus’ pharmaceutical-grade rose bengal sodium (RBS) active pharmaceutical ingredient.

Dr Jean-Marie Parel IngETS-G PhD FARVO, director of the Opthalmic Biophysics Center (OBC) at Bascom Palmer Eye Institute at the University of Miami Miller School of Medicine, commented: “Rose bengal PDAT is the result of a lot of hard work by cross-disciplinary contributors at the University of Miami. Seeing our team address the challenges of infectious keratitis in such an innovative way is very rewarding. We look forward to working with Provectus to deliver this groundbreaking treatment to patients worldwide.”

Ed Pershing, chairman of Provectus’ board of directors, added: “We are pleased to continue the Company’s collaboration with Dr Parel, Dr Amescua and the OBC team, and to enter into this exclusive worldwide license agreement. Bascom Palmer’s more than two-decade recognition as the preeminent US eye care centre underscores the potential impact of this medical innovation. We look forward to working with Bascom Palmer and the OBC to reduce or eliminate the risk of blindness and impaired vision from eye infections for millions of people around the world through the promise of rose bengal sodium PDAT.”

Betsy Goodfellow

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