San Diego-based Imprimis Pharmaceuticals Inc. announced it has acquired intellectual property from Randolph, N.J.-based Novel Drug Solutions Inc. and Sparta, N.J.-based Eye Care Northwest for its cataract treatment.
Imprimis (Nasdaq: IMMY) said the intellectual property, which includes a provisional patent application, is for an anti-inflammatory and anti-bacterial injection for the eye. The company believes the formulation has the potential to significantly impact the fast-growing $5 billion global cataract surgery drug market.
Shares for Imprimis dropped 15 cents in day trading August 28, closing at $6.23. The company’s market capitalization is $55.83 million.
— Meghana Keshavan