Aldeyra Therapeutics, Inc.

Aldeyra Therapeutics is a biotechnology company focused on discovering innovative therapies for immune-mediated diseases. The company develops pharmaceuticals that modulate protein systems to optimize multiple pathways simultaneously while minimizing toxicity, rather than directly inhibiting or activating single protein targets. Its product candidates include RASP (reactive aldehyde species) modulators ADX-248, ADX-246, and related molecules for potential treatment of systemic and retinal immune-mediated diseases. Late-stage product candidates include reproxalap, a RASP modulator for potential treatment of dry eye disease and allergic conjunctivitis, and ADX-2191, a novel formulation of intravitreal methotrexate for potential treatment of primary vitreoretinal lymphoma and retinitis pigmentosa. On October 31, 2023, Aldeyra Therapeutics entered into an exclusive option agreement with AbbVie Inc. This agreement granted AbbVie an exclusive option to obtain a co-exclusive license in the United States for collaboration on reproxalap development, manufacturing, and commercialization, and an exclusive license for reproxalap development, manufacturing, and commercialization outside the United States. AbbVie also received a right of first negotiation for Aldeyra's ophthalmology compounds related to ocular surface conditions and a right to review data for other ophthalmology and immunology compounds before sharing with third parties. Aldeyra Therapeutics received a non-refundable payment of $1.0 million for this option. On December 21, 2023, AbbVie extended the option period with an additional non-refundable payment of $5.0 million.