Bayer AG's Bayer Healthcare unit and Regeneron Pharmaceuticals Inc. agreed to jointly develop, and commercialize a treatment for eye disease.
The treatment, knows as VEGF Trap-Eye, blocks vascular endothelial growth factor, a protein that is responsible for blood vessel growth. By blocking VEGF, blood vessels that contribute to eye disease are starved of much needed oxygen and nutrients.
The agreement covers the world outside the United States, the companies said in a statement. Within the U.S., Regeneron has exclusive commercial rights and will retain 100 percent of all profits.