BEDFORD, Mass.--(BUSINESS WIRE)--Ocular Therapeutix, Inc. (NASDAQ:OCUL) a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye, today announced that it has settled litigation with Mati Therapeutics, Inc., regarding alleged infringement of U.S. Patent 7,922,702. Both parties have dismissed all claims and counterclaims against each other in that litigation, which was pending in the United States District Court for the District of Delaware (Ocular Therapeutix, Inc. v. Mati Therapeutics, Inc., Case No. 1:18-cv-01991-MN). Ocular had sought a declaration from the court that its first commercial drug product, DEXTENZA®, does not infringe Mati’s U.S. Patent 7,922,702. Under the settlement, Mati did not grant a patent license. Instead, both parties granted to each other a limited covenant not to sue regarding infringement by DEXTENZA, only as approved under New Drug Application number 208742. As such, there were no financial considerations by either party. All other terms of settlement are confidential.

About Ocular Therapeutix, Inc.
Ocular Therapeutix, Inc. is a biopharmaceutical company focused on the formulation, development, and commercialization of innovative therapies for diseases and conditions of the eye using its proprietary bioresorbable hydrogel-based formulation technology. Ocular Therapeutix’s first commercial drug product, DEXTENZA, is FDA-approved for the treatment of ocular pain following ophthalmic surgery. OTX-TP (intracanalicular travoprost insert) is an intracanalicular insert in Phase 3 clinical development for the reduction of intraocular pressure in patients with primary open-angle glaucoma and ocular hypertension. The Company’s earlier stage assets include OTX-TIC, an extended-delivery intracameral travoprost implant for the reduction of intraocular pressure in patients with glaucoma and ocular hypertension, as well as sustained release intravitreal implants for the treatment of retinal diseases. These intravitreal implants include OTX-TKI, containing a tyrosine kinase inhibitor (TKI), and, in collaboration with Regeneron, OTX-IVT, an extended-delivery protein-based anti-vascular endothelial growth factor (VEGF) trap. Ocular Therapeutix’s first product, ReSure® Sealant, is FDA-approved to seal corneal incisions following cataract surgery.