Paragon BioTeck Reformulated FRESHKOTE®, Prompting Eyevance Acquisition
PORTLAND, Ore., Sep. 13, 2018 – Paragon BioTeck, a privately held pharmaceutical and medical device company specializing in the development and commercialization of ophthalmic pharmaceuticals, devices and therapies, recently completed the reformulation for the FRESHKOTE® family of lubricant eye drops, purchased this week by Eyevance Pharmaceuticals.
“We are pleased to be able to have a role in the improvements made to the FRESHKOTE® products that make the product line an attractive acquisition for Eyevance,” said Patrick Witham, president and CEO of Paragon BioTeck. “FRESHKOTE® PF, which we formulated as a preservative-free product available in a multi-dose bottle and in single-unit vials, will be a welcome addition for physicians who have been seeking a preservative-free product to recommend to their patients.”
Physicians have already taken note of the improvements made in FRESHKOTE®. “Of all the bottled artificial tears that I use in my Dry Eye Center of Excellence, FRESHKOTE® is my favorite,” said Marguerite McDonald, MD, FACS. “The people who buy FRESHKOTE® buy artificial tears less frequently because the effect is so long.”
“It’s been a pleasure working with the Paragon team to make this acquisition a reality,” said Jerry St. Peter, CEO and director of Eyevance. “The exceptional efforts made by their development team to bring FRESHKOTE® PF to market provides Eyevance a unique product. We look forward to marketing FRESHKOTE® PF to eye care practitioners nationwide.”
Committed to enhancing the quality of life of patients, Paragon BioTeck develops and commercializes eye health products. The company’s product portfolio includes branded over-the-counter and prescription solutions to diagnose, manage and treat ocular conditions.
“Our scientists were particularly pleased to have the opportunity to develop a preservative-free formulation that is safe and well-tolerated by patients wearing contact lenses,” Witham added. “This project further demonstrates our mission to developing new and innovative products and technologies that advance ocular medicine.”
About Paragon BioTeck