APX Ophthalmology—Cataract-Pupillary Expander
One of the most common asked questions by today’s cataract surgeon is: How can I be more proficient and efficient when dealing with a complicated cataract involving constricted or small pupils? APX Ophthalmology LTD., (“APX”) an Israeli based private company, has focused its research and development on technology that will provide surgeons with greater comfort and performance when dealing with this problem.
Currently, the Malyugin Ring is the market leader in the “iris retractor” space and has doubled its growth in the past year. Even with this significant growth, physicians routinely note the following:
1. Positioning often requires aggressive intraocular manipulations.
2. Elements of the device occupy the entire circumference of the pupillary aperture and may interfere with surgical maneuvers.
3. Positioning and removal of the device can be cumbersome, time consuming and intraocular manipulations are often necessary.
Thus, APX has focused its efforts on accelerating the positive advantages of iris retractors while eliminating the current deficiencies of the Malyugin Ring:
1. No intraocular manipulations needed
2. The surgical field is not impeded by unnecessary device/ring design.
3. Seamless insertion and removal, by extra ocular approach
4. Doesn’t slow down surgery—positioning and removal are quick and effortless
The device is FDA listed as 510K exempt and fully reimbursed. Two patent applications have been submitted since 2009 to protect the technology. Both are pending.
APX Ophthalmology Ltd's co-founders are Professor Ehud Assia, Mr. Elie Eliachar and Mr. Nir Lilach, experienced entrepreneurs in the medical field and Mor Research Applications Ltd. (“Mor.”) Mor is the technology transfer arm of Israel's largest HMO, and employs over 8,500 physicians. Mor has commercialized more than 40 technologies over the last 10 years, all evolving from experienced doctors who have recognized an unmet need in their medical field.
APX Ophthalmology Ltd. is seeking to license the technology to a Strategic Partner.
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DIGITALVISION SYSTEMS, LLC
DigitalVision, LLC, dba DigitalVision Systems (“DVS”) is an Atlanta-based private company (www.DigitalVisionSystems.com) developing the VisionOptimizer™ System that will provide the vision care consumer with a novel ability to preview, compare, and select the best available vision correction product and/or to interactively-optimize a product for the patient’s individual visual needs. The VisionOptimizer can create proprietary designs for spectacles, contact lenses, refractive, and implant procedures—including presbyopia-correcting IOLs. Patients can experience the improved vision that DVS's new products provide compared to error-prone phoropter-based products while viewing real-world scenes in the VisionOptimizer’s viewport, bringing an all-new and engaging experience to vision care consumers.
The VisionOpimizer’s high-resolution displays and wavefront generator can be controlled by a technician, a doctor—or interactively—by the patient. A smaller device, remotely-controlled through the Internet, can deliver vision testing and product sales to most any location through a small-footprint "VisionCube™". The Company has secured four issued patents to protect its technology and it is expanding its IP portfolio with ten additional patents-pending.
DVS was founded by Keith P. Thompson, MD, a well-known refractive surgeon, and entrepreneur/inventor with specific expertise in physiological optics. DigitalVision has been selected as a VentureLab company, a Georgia Tech program that provides financial support to start-ups deemed to have strong commercial potential. DVS is developing the VisionOptimizer in collaboration with Georgia Tech Research Institute’s (GTRI) Electro-Optical Systems Lab (EOSL), a leader in developing advanced optical technologies for the Department of Defense and Industry. The VisionOptimizer prototype is presently under construction at EOSL, and clinical trials at Georgia Tech will commence in mid-2012. The Company will derive revenues from sales of VisionOptimizer Systems and from recurring sales of its licensed corrective products.
DVS is seeking $6 million in Series A funding from venture and strategic investors to complete product development and beta testing of its products and corporate sponsors to fund specific clinical trials.
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ELENZA, INC.—Electronic Intraocular Lens
ELENZA, Inc. (www.elenza.com) is developing the world's first electronic "AutoFocal" Intraocular Lens to compete in the multi-billion dollar IOL market. Elenza's highly proprietary next generation Accommodating IOL is designed to give patients a complete visual range, providing effective near, intermediate and distance vision. These electro-active IOLs use a proprietary combination of liquid-crystal chemistry, electricity, and integrated-circuitry to create smart optics, which will provide patients with the ability to see more naturally and clearly over the full range of vision. The technology includes an electro-active switchable element that automatically adjusts focusing power electronically, in milliseconds, to maintain constant in-focus vision for various working needs and/or light environments. The lens is controlled by a micro-sized power-cell with an expected 50+ year rechargeable cycle life.
In February of 2011, Elenza announced the completion of a $24 million Series B round of financing which will be used to support the clinical development and technology commercialization of ELENZA’s Accommodating IOL This capital placement is also expected to fund clinical and regulatory activities required to obtain CE mark in Europe and other international markets.
The Series B placement represented investments from the Company’s original investors, The Carlyle Group (Washington, DC) & Delphi Ventures (Menlo Park, CA), as well as new investors, the Itochu Corporation (Tokyo, Japan) and the Series B lead, a U.S. strategic corporate investor, which was initiated by Magnum.
The Magnum Group provides various business development services for Elenza in connection with securing additional strategic initiatives.
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EUROPEAN STRATEGIC BUYER—Merger/Acquisition/In-license
A publically held European based company, which is internally developing several drug-candidates, and is interested in acquiring and/or in-licensing other ophthalmic late stage or commercial therapeutic, diagnostic or medical device technologies. The Company has an interest in all areas of ophthalmology including AMD, glaucoma, cataract, refractive, retinal, dry eye, drug delivery and allergy. The Company is well financed, has an experienced management team and an interest in rapidly moving forward with synergistic products and technologies. Potential market opportunity, Intellectual Property protection, Clinical and Regulatory outcomes and management will be carefully evaluated.
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KLARITY™—Lubricant Eye Drop
Klarity was developed by Richard Lindstrom, MD for Refractive (LASIK/ PRK) and Postoperative Cataract, Corneal, Glaucoma and Vitreoretinal Surgery patients, as well as Contact Lens wearers after they remove their lenses. Klarity’s proprietary formulation contains special components that rehabilitate the stressed ocular surface by reducing corneal edema, scavenging free radicals, and creating a well lubricated enriched healing environment for the ocular surface, facilitating nutrition and regeneration of corneal tissue. This product is intended to serve an important and growing niche in the ophthalmic OTC market: patients that need a specialty high performance lubricating eye drop. The product line can also be formulated for certain Rx indications. Extensive product development, performance and focus group studies have been completed. The technology is both patented and the name can be trademarked.
Klarity is seeking a Licensing Agreement for the development and commercialization of this technology.
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LENTICULAR RESEARCH GROUP, LLC—Treatment for Presbyopia
Lenticular Research Group, LLC (“LRG”) is a Chicago-based Company that is developing a proprietary laser technology for treating the symptoms of presbyopia (loss of near focus after the age of 40+). LRG has engaged in extensive pre-clinical research relative to the physiology of the human crystalline lens and currently has two issued patents and eight pending patent applications.
LRG’s treatment involves femtosecond laser application to the germinative zone of the crystalline lens, which selectively inhibits epithelial cell reproduction (alters the growth rate of the lens), slowing the onset of presbyopia. The treatment concept was developed by George McArdle, OD, and advanced through collaborative work with Jerome Kuszak, Ph. D., Professor Emeritus of Rush University Medical Center. Dr. Kuszak is a world renowned leader in lens research. LRG has also established an exceptional MAB, including Doctors Richard Lindstrom, Dan Durrie, Roger Steinert, Vance Thompson and Louis Probst.
LRG has completed initial Guinea Pig studies aimed at developing Proof of Concept and plans to expand on these results to demonstrate safety and efficacy. This would place LRG in a position to begin to seek FDA approval.
The Company is seeking both financial and laser technology support to advance their research. Laser technology support could include collaborative development; licensing; OEM; or distribution rights. Financially, the Company is seeking to raise between $1.25M - $2.5M to accomplish two phases of work:
- Additional animal testing to finalize the technology platform ($1.25M), or
- Completion of 30-50 human subjects demonstrating the ability to alter the progression of presbyopia ($2.5M)
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RAPID PATHOGEN SCREENING, INC.—Point-of-Care Diagnostic Testing
Rapid Pathogen Screening Inc. (“RPS”), founded by a family of ophthalmologists, is an emerging biotech company based in Sarasota, Florida. The Company has developed a single use Point-of-Care (“POC”) diagnostic testing system that targets infectious diseases, inflammatory conditions, and biochemical threats. The technology has significant Intellectual Property protection (10 patents issued and 16 pending); its first product is 510(k) cleared; it has issued reimbursement codes; is CLIA waived allowing the test to be performed in a physician’s office instead of a laboratory; and is easy and fast to administer (10 minutes). The technology has a high level of sensitivity; provides significant healthcare economics; and, is a platform for many other market segments.
RPS has successfully commercialized its first ophthalmic product, the RPS Adeno Detector for detecting Adenoviral conjunctivitis and anticipates the upcoming launch of the RPS InflammaDry Detector for detecting dry eye. It also has 10 additional tests, for various disease states, in the pipeline. All of these tests have successfully completed proof-of-concept and utilize the same proprietary technology platform. The Company has validated its novel technology through key partnerships with the Center for Disease Control (CDC), the Advanced Diagnostic Laboratory of the Air Force, and has established several development and co-marketing agreements with biopharmaceutical companies to support their therapeutic products. RPS has an experienced management team and the critical infrastructure in place, including low-cost manufacturing capabilities.
RPS is raising $25 million in a Series A round of financing to support the rapid growth and expansion of the company to commercialize multiple innovative new products over the next 24-30 months. The Company has already received verbal commitments from two potential syndicate partners and is seeking a lead investor.
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