A Northern Ireland medtech firm has signed a licensing agreement with German pharmaceutical company Boehringer Ingelheim, potentially worth over US$1bn for the first three treatment targets.
Re-Vana Therapeutics develops drug delivery systems aimed at reducing how often patients with chronic eye conditions need injections, helping improve adherence to treatment.
The technology addresses a key challenge in treating conditions such as age-related macular degeneration and diabetic eye disease, where patients may require monthly eye injections.
Founded in 2016 by Professor Raj Thakur and Professor David Jones from Queen’s University Belfast, Re-Vana includes the university’s commercialisation arm Qubis among its investors.
Under the deal, Boehringer Ingelheim will license Re-Vana’s delivery platform to use with its own eye disease therapies and will handle regulatory approvals and global commercialisation.
Boehringer Ingelheim said the agreement includes “upfront, development, regulatory and commercial milestone payments to Re-Vana, with total potential deal value exceeding US$1bn for the initial three targets, in addition to royalty payments on net sales”.
Now headquartered in the US while maintaining its research base in Belfast, Re-Vana aims to extend the interval between treatments – potentially reducing injections from monthly to every few months.
Michael O’Rourke, chief executive officer at Re-Vana, said the collaboration with Boehringer Ingelheim marks a “transformational moment”.
The partnership will see the German firm combine Re-Vana’s sustained-release technology with its pipeline of eye treatments to reduce injection frequency without compromising efficacy.
Northern Ireland secretary of state Hillary Benn said the deal “represents a huge vote of confidence in Northern Ireland’s innovation and skills”.
The agreement reinforces Northern Ireland’s reputation in life sciences, particularly in drug delivery technologies that support better patient care and reduce strain on healthcare systems.
