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Sydnexis Announces Royalty Agreement with Ligand for Ryjunea®

$23 million upfront payment immediately monetizes future royalties associated with Ryjunea in Europe, the Middle East, and Africa

Capital further strengthens Sydnexis’ balance sheet as Company continues to advance SYD-101 through U.S. regulatory process and prepares for potential commercialization in 2027

DEL MAR, Calif.–(BUSINESS WIRE)–Sydnexis, Inc., a biopharmaceutical company focused on developing a novel low-dose atropine formulation to treat pediatric progressive myopia (PPM), today announced an agreement with Ligand Pharmaceuticals Incorporated (NASDAQ: LGND) to sell its royalty rights associated with net sales of Ryjunea® in Europe, the Middle East, and Africa (EMEA).

Under the terms of the agreement, Ligand will pay $23 million upfront to acquire a 100% interest in certain payments and related rights under Sydnexis’ existing license agreement with Santen. Sydnexis retains all rights to SYD-101 in the U.S. and all other non-Santen licensed territories.

“Our agreement with Ligand enables us to immediately realize meaningful value for SYD-101 in certain territories outside of the U.S., while further strengthening Sydnexis’ financial position at a pivotal moment for the Company,” said Perry Sternberg, Chief Executive Officer of Sydnexis. “The U.S. remains our primary target market and this additional capital will provide us with greater flexibility as we continue advancing SYD-101 through the U.S. regulatory review process and prepare for commercialization, if approved, in 2027. We are focused on our goal of bringing families in the U.S. an FDA-approved treatment option for pediatric progressive myopia as quickly as possible and addressing this significant unmet need in children.”

SYD-101 is currently approved in the European Union and UK, where it is licensed to Santen S.A. and marketed as Ryjunea®.

Hogan Lovells Cadwalader US LLP served as legal counsel to Sydnexis.

About Pediatric Progressive Myopia (PPM)

Pediatric Progressive Myopia (PPM) is the most common eye disease in children and a rapidly rising global health concern. Nearly one-third of children worldwide are already affected by this degenerative disease, with prevalence projected to exceed 740 million cases by 2050 (Liang et al., 2024). In North America, myopia prevalence is expected to reach nearly 60% by 2050, according to a landmark study published in Ophthalmology (Holden et al., 2016). The most rapid progression of the disease occurs in children ages 3 to 10 years (Hu et al., 2020), with patients who start progressing younger experiencing more severe outcomes and associated co-morbidities, including cataracts, glaucoma, retinal detachment, and myopic maculopathy. Despite its growing prevalence, there are currently no FDA-approved pharmaceutical options in the United States to slow the progression of PPM, representing a significant gap in available treatment options for patients.

About Sydnexis, Inc.

Sydnexis, Inc. is a biopharmaceutical company dedicated to advancing care for pediatric progressive myopia. The company’s lead compound, SYD-101, is currently approved in the European Union and UK, where it is licensed to Santen S.A. and marketed as Ryjunea®. Sydnexis is supported by leading life-science investors, including Visionary Ventures, RA Capital, Longitude Capital, and Bluestem Capital. For more information on Sydnexis, please visit www.sydnexis.com.

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Sydnexis Announces Royalty Agreement with Ligand for Ryjunea®

Co-Founder & Co-CEO, Marketing & Brand Experience

Jenna Farr is a healthcare marketing and commercialization executive with more than 18 years of experience across the healthcare industry. Her career began in bariatrics and later expanded into ophthalmology, where she has built more than a decade of specialized experience. Her expertise includes commercialization strategy, brand development, market development, product launch, AI integration, patient and physician marketing, sales team support, digital marketing, and clinical trial recruitment.

Having spent much of her career working inside healthcare companies, Jenna brings an operator’s perspective to the agency side. She understands firsthand what it takes to build markets, launch products, support sales teams, navigate internal priorities, and turn commercialization strategies into programs that can actually be executed.

Today, Jenna is the Co-Founder and Co-CEO of LaunchLab Partners, a healthcare commercialization and marketing firm that works with emerging and established companies at critical stages of growth. She partners closely with executive and commercial teams to clarify positioning, strengthen brands, develop go-to-market strategies, and build integrated programs that drive awareness, adoption, and sustained commercial momentum.

Prior to co-founding LaunchLab Partners, Jenna served as Director of Global Marketing at AcuFocus, where she led global brand and commercialization initiatives and supported the launch of first-of-their-kind ophthalmic technologies. AcuFocus was subsequently acquired by Bausch + Lomb.

In addition to her work in healthcare, Jenna serves as Executive Director of the Orange County Employee Benefits Council, where she supports the organization’s programming, member engagement, and continued growth. She is also a Digital Ambassador for Ophthalmic World Leaders (OWL) and a member of Women in Ophthalmology.

Jenna holds a B.A. in Marketing from San Diego State University and a certificate in Advanced Digital Marketing Growth Strategies from The Wharton School.

Community involvement is also an important part of Jenna’s life. Since 2020, she has been actively involved in Girl Scouts and currently serves as a troop co-leader, while also volunteering in her children’s school and local community. She is a mom of two and is passionate about creating opportunities for young people to build confidence, leadership skills, and meaningful connections.

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