Tarsus Pharmaceuticals Achieves $15M Milestone Payment
Tarsus Pharmaceuticals announced that a $15M milestone payment due Tarsus has been achieved following regulatory approval of TP-03, or lotilaner ophthalmic solution, 0.25% by the National Medical Products Administration of the People's Republic of China. "TP-03 is once again the first and only therapy approved to address the root cause of Demodex blepharitis - marking a meaningful advance for the more than 40 million people in the region affected by this disease," said Bobak Azamian, chairman and CEO of Tarsus. The approval was obtained by Grand Pharmaceutical Group Limited, Tarsus' exclusive partner for the development and commercialization of TP-03 for the treatment of Demodex blepharitis in the Greater China region. Under the terms of the agreement with Grand Pharma, Tarsus is eligible to receive the $15M milestone payment based on regulatory approval in China and patent issuance related to TP-03, both conditions of which have been achieved.
