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European approval of JETREA (ocriplasmin) triggers EUR45M milestone payment for ThomboGenics NV

ThromboGenics NV (Euronext: THR) a Belgium based biotech company, have announced receipt of a European Medicines Agency (EMA) Marketing Authorisation Approval (MAA) for JETREA (ocriplasmin), indicated for the treatment of vitreomacular traction (VMT), including treatment of a macular hole of 400um or less in diameter. The European approval lands the company with a EUR45M milestone payment from its partner Alcon, Inc., (now a division of Novartis) with a further EUR45M milestone to be paid upon “first sale” of the product in the EU. Alcon acquired the rights to commercialise the drug outside the US in March 2012 while ThomboGenics retains control of sales in the US. The company estimates that 250,000 to 300,000 patients in Europe suffer from VMT.