TearLab (TEAR), PRN Enter co-Promotion Agreement
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TearLab Corporation (Nasdaq: TEAR) announced that it has entered into a definitive co-promotion agreement with PRN Physician Recommended Nutriceuticals (PRN), based in Plymouth Meeting, PA, whereby PRN and the Company will jointly promote PRN’s patented omega-3 formulations, including Dry Eye Omega Benefits®. PRN’s marketed omega-3 formulations have been shown to reduce osmolarity levels in dry eye patients utilizing the TearLab Osmolarity System which provides an objective assessment to diagnose and manage patients with DED.
“We are excited to enter into this agreement with PRN, the recognized leader in providing a superior omega-3 formulation to eye care professionals,” said Seph Jensen, Chief Executive Officer of TearLab. “PRN and TearLab are optimal partners as our system, which is the only quantitative and objective osmolarity test on the market, fits well with PRN’s goal of helping doctors manage dry eye patients. The recent peer reviewed publication by the prestigious journal Cornea, demonstrated Dry Eye Omega Benefits® effect on reducing osmolarity in human tears and should provide synergies to accelerate the growth of both PRN and TearLab brands.”
TearLab currently markets the TearLab Osmolarity System and has over 4,000 devices placed in the United States and more than six million tests performed globally since the commercial launch in 2012. Under the agreement, TearLab’s sales force in the United States will now promote PRN’s proprietary dry eye brands, like Dry Eye Omega Benefits®, to the Company’s current and prospective customers.
“Physicians have long understood the positive benefits to their patient’s health of re-esterified, triglyceride formulations of omega-3 products, and PRN has now established through the rigor of a clinical study our brand’s ability to lower osmolarity,” said Kenneth Krieg, Chief Executive Officer, PRN. “TearLab is a great partner for us as their diagnostic test is widely used by physicians to measure a leading biomarker for DED, and our product objectively lowers the level of this biomarker in human tears.”
PRN currently markets several patented omega-3 brands including Dry Eye Omega Benefits® and Dry Eye Omega Benefits® Liquid, which were developed and endorsed by medical thought leaders. PRN will retain the primary responsibility for sales, marketing, distribution and regulatory management of the co-promoted brands. In addition, PRN plans to continue its promotional strategies to current and prospective customers and retains full right to market the brands in any channel in the United States. The co-promotion does not include any markets outside of the United States.
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