Aerie Pharmaceuticals Inc,a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of first-in-class therapies for the treatment of glaucoma and other diseases of the eye announced that it has entered into a lease agreement with the IDA of Ireland for a new manufacturing plant in Athlone, Ireland.
This will be Aerie’s first manufacturing plant, expected to produce commercial supplies of Aerie’s current product candidates, Rhopressa™ and Roclatan™. The Athlone building shell, which was recently constructed by the IDA, includes approximately 30,000 square feet of interior floor space.
The IDA has provided employment and capital investment incentives to Aerie as part of the overall arrangement. Aerie has commenced equipment ordering and will begin internal construction immediately. Estimated project-wide construction and equipment costs are expected to total approximately $25 million (excluding ongoing labor-related and lease expenses), of which approximately $16 million is expected to be spent in 2017. If approved, commercial product supply of Rhopressa™ from the plant is expected to be available by 2020.
“We have now achieved another milestone in executing our stated long-term strategy. As we prepare for commercialization, it is increasingly important that we ensure greater independence regarding our finished product sourcing while also meaningfully reducing our future product costs. We are grateful to our IDA colleagues in Ireland for their cooperation throughout this process and the incentives that we have been granted,” said Vicente Anido, Jr., Ph.D., Chief Executive Officer and Chairman at Aerie.
About Aerie Pharmaceuticals, Inc.
Aerie is a clinical-stage pharmaceutical company focused on the discovery, development and commercialization of first-in-class therapies for the treatment of patients with glaucoma and other diseases of the eye. Aerie’s two lead product candidates are once-daiIy IOP-lowering therapies with novel mechanisms of action to treat patients with glaucoma or ocular hypertension. The NDA filing for Rhopressa™ (netarsudil ophthalmic solution) 0.02% was originally submitted in the third quarter of 2016 and is expected to be resubmitted near the end of the first quarter of 2017. The second product candidate, Roclatan™ (netarsudil/latanoprost ophthalmic solution) 0.02%/0.005%, which is a fixed dose combination of Rhopressa™ and widely prescribed PGA latanoprost, currently has two Phase 3 registration trials underway, named Mercury 1 and Mercury 2. If these trials are successful, a Roclatan™ NDA filing is expected to take place near year-end 2017. Aerie is also focused on the development of additional product candidates and technologies in ophthalmology.
Richard Rubino, 908-947-3540
Burns McClellan, Inc., on behalf of Aerie Pharmaceuticals
Ami Bavishi, 212-213-0006
Justin Jackson, 212-213-0006