A spin-out from Queen's University – Re-Vana Therapeutics – has signed a major collaboration deal with pharmaceutical leader Boehringer Ingelheim to develop cutting-edge treatments for eye disease, in a move that puts Northern Ireland at the forefront of global medical innovation.

The agreement, which could be worth more than $1 billion depending on development and commercial milestones, in addition to royalty payments on net sales, will see the companies jointly develop a new class of long-acting treatments to tackle conditions that lead to vision loss. The technology, originally developed at Queen’s, has the potential to drastically reduce the number of eye injections patients with conditions like macular degeneration need – improving outcomes and quality of life.

This global partnership represents a significant moment for Re-Vana Therapeutics, which was founded in Belfast and still has its research base here, and is a wholly owned subsidiary of Re-Vana Holding Inc, Tampa, Florida. The ambition is to position Northern Ireland as a world leader in extended-release drug delivery systems.

Secretary of State for Northern Ireland Hilary Benn said:

“This landmark deal worth around $1 billion is fantastic news for Belfast firm Re-Vana and their international partner Boehringer Ingelheim.

 “This deal represents a huge vote of confidence in Northern Ireland’s innovation and skills, and is good news for the health sector as well as demonstrating the keen interest there is in investing in Northern Ireland’s economy.

 “I look forward to seeing more deals like this one in the future as investors seize the advantages of doing business in Northern Ireland.”

 Welcoming the announcement, Professor Sir Ian Greer, President and Vice-Chancellor of Queen’s said:

“This landmark deal demonstrates the global impact of Queen’s research and the strength of Northern Ireland’s innovation ecosystem, highlighting the key role Queen’s plays in driving innovation and enhancing the local economy. This landmark partnership has been made possible thanks to the vision of our world class research-intensive university to invest in spinouts.

 “Through QUBIS, the University’s commercial arm, we have helped create more than 100 tech spinouts, generating nearly £400 million in revenue and we are ranked second in the UK for entrepreneurial impact. Re-Vana Therapeutics success is a shining example of how Northern Ireland innovation, rooted at Queen’s, is helping to transform lives on a global scale.”

Treating ophthalmic disease today often requires patients to undergo injections into the eye as frequently as every four to six weeks – a process that is both burdensome and, for many, distressing. Re-Vana Therapeutics’ biodegradable drug delivery platform allows medicine to be released gradually over six to 12 months, significantly reducing the number of injections required.

Michael O’Rourke, Re-Vana Therapeutics Chief Executive Officer said:
“The strategic collaboration with Boehringer Ingelheim marks a transformational moment for Re-Vana. By combining our extended-release platform with Boehringer Ingelheim’s world-class research and development capabilities and eye health pipeline, we strive to bring forward a new generation of long-acting treatments for eye diseases that offer significant clinical and quality-of-life benefits for patients.”

Under the deal, Boehringer Ingelheim can nominate up to three new development projects each year. The company will lead on clinical trials, regulatory approvals and international commercialisation, while Re-Vana Therapeutics continues to lead development work from its Belfast base.

The partnership also strengthens Queen’s reputation as a leading UK university for commercialisation of research, and for nurturing life sciences spin-outs capable of global impact.

Media

Media enquiries to Queen’s Communications Office on email: office@qub.ac.uk or tel: (028) 9097 3091