Bayer Regeneron Eye Drug Meets Study Goal

Regeneron Pharmaceuticals Inc. and Bayer HealthCare AG said Thursday their developing VEGF Trap-Eye drug met key vision improvement goals in a midstage study.

The drug is aimed at improving vision in patients with diabetic macular edema. The condition is a disease of the retina that affects individuals with diabetes and can lead to blindness.

The study, which took place over 24 weeks, compared VEGF Trap-Eye with laser therapy.

The companies also said VEGF Trap-Eye was well tolerated, and there were no drug-related serious adverse events.

Shares of Regeneron, which is based in Tarrytown, N.Y., closed at $30.46 Wednesday. Bayer HealthCare AG is based in Germany.

2/18/2010 8:18 AM NEW YORK (AP)