A sight-saving technology for degenerative disease.
The loss of sight due to degenerative eye diseases is a disorientating and life-changing debilitation for those affected. An innovative ophthalmologic company is developing sight-saving technologies for people suffering from degenerative eye diseases for which there are currently no cures. The company’s novel solution facilitates increased brightness, decreased fogginess, improved visual acuity, enhanced color perception and reduction of blind spots. It is offering the only patented micro-current device that employs neuromodulation/stimulation for the treatment of Age-Related Macular Degeneration (AMD), Stargardt's disease, retinitis pigmentosa and other degenerative eye diseases for which there are no FDA approved treatments. Some patients who were previously robbed of their sense of sight can now use mobile phones, drive, read newspapers and see the faces of family members all thanks to this sight-saving technology.
AMD is associated with degradation in the retina and is responsible for the most severe form of visual impairment. AMD is a major cause of eyesight deterioration in older age groups, affecting millions of people. It is estimated that 5% of the world's population will develop a form of AMD. Previously, AMD was seen as an untreatable disease, as indicated by the lack of FDA approved options for patients, but this company offers an innovative technology that refutes this claim.
The untreated U.S. market for Dry AMD includes over 7 million people; the aging of the baby boomer generation will lead to an estimated 50% increase in the prevalence of age-related degenerative eye diseases by 2020. Penetration of 5% into the large American market would yield $3.2 B in associated revenues.
Electrical stimulation is known to release retinal neuro-protective factors protecting against photoreceptor cell death, raise ATP synthesis (needed for energy metabolism, membrane viability and waste management), improve microvascular circulation, and improve nerve conduction and velocity. Micro-current stimulation has also been proven to expand the visual fields of individuals diagnosed with retinitis pigmentosa. Research suggests that the client's electrical neuromodulation/stimulation device approximates the level of electrical activity present in a healthy eye, stimulating recovery in diseased or dormant cells.
Our client has patents for the treatment of ocular pathologies using micro-current, infrasonic and light energy. The product is ISO13485 certified, and was CE MARK approved in 2009. The company has recently signed distribution partners in Germany, Italy, Spain, Turkey, India and Malaysia.
The company has raised approximately $6 MM USD from accredited investors not including almost $1 MM from the founder. They expect to close on $4 MM in institutional investment by May 2014. These additional funds will be used primarily for debt/payable reduction, and supporting the transaction costs.
Studies have shown that micro-current stimulation can improve vision for 85% of patients suffering from macular degeneration, 83% of those suffering from Stargardt's disease, and 66% of those suffering from retinitis pigmentosa. The integration of this device will lead to longer and healthier lives for the growing Baby Boomer generation, which includes 3.6 million diagnosed individuals. Additionally, no adverse side effects have been reported by patients who have used the therapy method.
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