Taiwanese ophthalmic drug developer BRM Bio (Full Fortune Biotech) says trials of its lead drug candidate are progressing smoothly and that it is in licensing talks with several international pharmaceutical companies — good news for shareholders.

• BRM424, a treatment for neurotrophic keratitis, has completed dosing in Phase II trials in the United States and Brazil. Preliminary results indicate a good safety profile and efficacy superior to existing therapies.
• Full data will be released in the fourth quarter, and the company hopes to conclude a global or regional licensing deal before the end of the year.
• Several international pharmaceutical companies are already conducting due diligence and discussing licensing terms, while others have been making enquiries and signing confidentiality agreements.
• Patients have shown good corneal repair, with no pain as nerve sensation returns and no serious drug-related side effects.
• Two other drug candidates are also in Phase II: BRM411 for glaucoma, which lowers intraocular pressure effectively with a low incidence of eye redness, and BRM421 for dry eye disease, whose efficacy increases with dosage.

Outlook: Once the fourth-quarter data are out, licensing negotiations are expected to accelerate, and whether a deal can be signed before year-end will be the key question.