School of Pharmacy Spin-out Secures Landmark $1bn Pharma Deal
Re-Vana Therapeutics, founded by Professors Raj Thakur and David Jones from the School of Pharmacy at Queen's, has signed a major collaboration deal with pharmaceutical leader Boehringer Ingelheim to develop cutting-edge treatments for eye disease.
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 by Professor Thakur and Professor Jones’ team at the School of Pharmacy, 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 development for Re-Vana Therapeutics, which was founded in Belfast, and which retains its research base in the School of Pharmacy at Queen's.
Speaking of the agreement, Professor Thakur, co-founder of Re-Vana Therapeutics, said:
“This is a proud moment that underscores how cutting-edge innovation from our ocular drug delivery lab can lead to meaningful real-world impact. It’s a powerful reminder of the vital role academic research plays in shaping breakthrough therapies. Heartfelt congratulations to our former PhD students, postdocs, collaborators, and the entire Re-Vana team for their dedication and contributions to this success. I’m also sincerely thankful to Invest NI, Innovate UK, and our investors for their unwavering support and belief in our vision. I warmly welcome aspiring researchers from diverse backgrounds to join us and help drive the next wave of transformative discoveries.”
Professor Jones added:
"My research journey concerning the use of hydrogels as implantable drug delivery systems started over thirty years ago. Over this time I have worked with many academic colleagues, PhD students and post-doctoral fellows and I wish to offer my sincere thanks to everyone who has been part of this journey. Translating science into solutions for the improved treatment of diseases has always been my aspiration. I sincerely hope that the success of Re-Vana inspires the next generation of pharmaceutical scientists/biotechnologists/pharmacists to take on the challenge of improving health through innovative drug delivery solutions."
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 added:
“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 base at the School of Pharmacy.
Commenting on the development of this important partnership, Professor Gavin Andrews, Head of the School of Pharmacy at Queen’s, noted:
"This landmark deal with German pharmaceutical leader Boehringer Ingelheim is a testament to the exceptional research and entrepreneurial spirit within the School of Pharmacy. We are immensely proud to have supported Re-Vana from its earliest stages, and to see the innovative ocular drug delivery research undertaken by our staff evolve into globally impactful healthcare solutions. This success illustrates not only the strength of our academic community but also Northern Ireland’s vibrant environment for life sciences and university spin-outs.”
This partnership strengthens the School of Pharmacy’s reputation as a leading centre for the development of pharmaceutical products with real impact on patient care.
More information about Re-Vana is available via their website.
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