OPKO Health Announces License for Topically Active Formulation of Ranibizumab

MIAMI--(BUSINESS WIRE)-- OPKO Health, Inc. (NYSE: OPK) today announced it has signed a research and license agreement with a prominent Mexican professor of ophthalmology for a topically active formulation of the anti-VEGF antibody, ranibizumab, utilizing OPKO proprietary drug delivery technology. The technology will initially target the development of the ranibizumab product to treat diabetic macular edema (DME), but the delivery system will also be studied with other pharmaceutical products to treat DME and other eye diseases.

Presently, ranibizumab is only approved for delivery by intra-vitreal injection,” noted Dr. Frost, M.D., Chairman and Chief Executive Officer, of OPKO. “We believe the development of a topical VEGF antibody formulation would result in substantial benefits to patients.”

About OPKO Health, Inc.

We are a multi-national biopharmaceutical and diagnostics company that seeks to establish industry-leading positions in large and rapidly growing medical markets by leveraging our discovery, development and commercialization expertise and our novel and proprietary technologies. Our current focus is on conditions with major unmet medical needs including neurological disorders, infectious diseases, oncology and ophthalmologic diseases.

This press release contains "forward-looking statements," as that term is defined under the Private Securities Litigation Reform Act of 1995 (PSLRA), which statements may be identified by words such as "expects," "plans," "projects," "will," "may," "anticipates," "believes," "should," "intends," "estimates," and other words of similar meaning, including statements regarding our product development efforts relating to ranibizumab and other pharmaceutical products for the treatment of diabetic macular edema and other eye disease, as well as other non-historical statements about our expectations, beliefs or intentions regarding our business, technologies and products, financial condition, strategies or prospects. Many factors could cause our actual activities or results to differ materially from the activities and results anticipated in forward-looking statements. These factors include those described in our filings with the Securities and Exchange Commission, as well as risks inherent in funding, developing and obtaining regulatory approvals of new, commercially-viable and competitive products and treatments. In addition, forward-looking statements may also be adversely affected by general market factors, competitive product development, product availability, federal and state regulations and legislation, the regulatory process for new products and indications, manufacturing issues that may arise, patent positions and litigation, among other factors. The forward-looking statements contained in this press release speak only as of the date the statements were made, and we do not undertake any obligation to update forward-looking statements. We intend that all forward-looking statements be subject to the safe-harbor provisions of the PSLRA.

OPKO Health, Inc.
Steven D. Rubin, 305-575-4100

Source: OPKO Health, Inc.

Released July 18, 2012