WATERTOWN, Mass., Jan. 23, 2023 (GLOBE NEWSWIRE) — EyePoint Pharmaceuticals, Inc. (NASDAQ: EYPT), a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders, today announced that it has entered into a lease agreement to design and construct a 40,000-square-foot manufacturing facility in Northbridge, Massachusetts to support the global manufacturing of programs, including EYP-1901 and YUTIQ.
“As EyePoint continues to advance our retinal disease-focused pipeline and commercial business, the ability to efficiently and reliably manufacture our products is key to our mission of bringing innovative treatment options to patients living with serious eye disorders,” said Nancy Lurker, Chief Executive Officer of EyePoint Pharmaceuticals. “This new facility provides us with significant manufacturing capacity to accelerate the clinical development and future commercial production for EYP-1901, as well as support global demand for our U.S. FDA and China NMPA approved therapy, YUTIQ. This strategic investment in a commercial scale facility reflects our commitment to EYP-1901, YUTIQ and the focus on building a strong pipeline for long-term shareholder value.”
The 40,000 square-foot standalone manufacturing facility will be Good Manufacturing Practice (GMP) compliant to meet U.S. FDA and European Medicines Agency (EMA) standards and support EYP-1901’s clinical supply and commercial readiness upon regulatory approval. In addition, the building will have the capacity and capabilities to support EyePoint’s commercial business and expanding pipeline. The new facility, customized for EyePoint’s requirements, will be constructed and managed by V.E. Properties IX, LLC and is expected to be operational in the second half of 2024. EyePoint was represented by Jones Lang LaSalle throughout the property search, selection, and lease negotiation process.
“This agreement allows EyePoint to meet anticipated global clinical and commercial demand for our products and product candidates with only a modest financial upfront requirement, as rent obligations do not begin until we occupy the facility in the second half of 2024,” said George Elston, Chief Financial Officer of EyePoint Pharmaceuticals. “Additionally, in connection with this agreement, EyePoint will be receiving approximately $1.9 million in state and local tax incentives as part of our commitment to this facility and the local jobs that it will create. We look forward to working with V.E. Properties IX, as they build this new facility to our specifications.”
About EyePoint Pharmaceuticals
EyePoint Pharmaceuticals (Nasdaq: EYPT) is a pharmaceutical company committed to developing and commercializing therapeutics to help improve the lives of patients with serious eye disorders. The Company’s pipeline leverages its proprietary Durasert® technology for sustained intraocular drug delivery including EYP-1901, an investigational sustained delivery intravitreal treatment currently in Phase 2 clinical trials. The proven Durasert drug delivery platform has been safely administered to thousands of patients’ eyes across four U.S. FDA approved products, including YUTIQ® for the treatment of posterior segment uveitis, which is currently marketed by the Company. EyePoint Pharmaceuticals is headquartered in Watertown, Massachusetts.