ZHAOKE OPHTH-B (06622) announced that on November 18, 2025, China's National Medical Products Administration (NMPA) approved the Investigational New Drug (IND) application for PAN-90806 eye drops for treating wet age-related macular degeneration (wAMD).

In another development, the board announced on November 19, 2025, that the company obtained NMPA's market approval for epinastine hydrochloride eye drops, a treatment for allergic conjunctivitis.

PAN-90806, an anti-VEGF drug for wAMD, is a novel topical ophthalmic formulation with favorable physicochemical properties as a small-molecule compound. If approved as a maintenance therapy, PAN-90806 could offer patients a more convenient and less invasive option, reducing the frequency of intravitreal injections and treatment burdens associated with mainstream anti-VEGF therapies while maintaining vision stability.

The use of PAN-90806 is expected to significantly improve treatment adherence by enhancing patient comfort, acceptance, convenience, and compliance, thereby slowing disease progression. wAMD is the leading cause of vision loss and blindness in individuals aged 50+ globally and in China. According to industry research, China's wAMD drug market is projected to grow from $241.5 million in 2019 to approximately $3.5 billion by 2030, representing a 27.5% CAGR.

Epinastine hydrochloride eye drops, a generic version of Allergan's Elestat, feature dual mechanisms of antihistamine and mast cell stabilization. It serves as a first-line treatment for allergic conjunctivitis (particularly acute cases) in China.