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Valeant Pharmaceuticals International, Inc.

Drug Names(s): ISV-403, besifloxacin ophthalmic suspension

Description: ISV-403 combines a fourth-generation fluoroquinolone, SS734, licensed fromJapan's SSP, with InSite Vision's patented drug delivery system,DuraSite. Preclinical studies with ISV-403 indicated that this drugcandidate is effective against bacteria resistant to third generationfluoroquinolone products.

Deal Structure: Insite and Bausch & Lomb
In August 2002, InSite Vision and Bausch & Lombentered a license agreement to develop and commercialize ISV-403 with InSiteresponsible for all development activities.

In December 2003, InSite Vision and Bausch & Lomb announced they reached an agreement whereby InSite Vision will sell ISV-403 for the treatment of ocular infections to Bausch &Lomb.

Under the terms of the proposed transaction, InSite Vision will receive acash payment, reimbursement of certain ISV-403 product development expensesand a mid-single digit royalty on global net sales of ISV-403.Bausch & Lomb will assume all future ISV-403 development and commercializationexpenses and, following a transfer period, will be responsible for alldevelopment activities, with assistance from InSite Vision as appropriate.

Inaddition, at the closing of the transaction, the August 2002 ISV-403 licensingagreement between Bausch & Lomb and InSite Vision will be terminated. No further...See full deal structure in Biomedtracker

Partners: Sun Pharmaceutical Industries Ltd. Pfizer Inc. SWK Holdings Corporation

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