Bausch + Lomb and Sanoculis, an Israeli ophthalmic medical device startup company, have entered into strategic agreements designed to address unmet needs in glaucoma.
The companies have entered into an exclusive European distribution agreement for Sanoculis' Minimally Invasive Micro Sclerostomy (MIMS), a surgical procedure for the treatment of glaucoma. Bausch + Lomb has made an equity investment in Sanoculis as part of a Series C round of funding, and has an option to purchase all of Sanoculis' assets.
MIMS is a stentless glaucoma treatment that lowers intraocular pressure without the need for invasive surgery. MIMS, which is CE-marked, creates a sclero-corneal drainage channel during the surgery, thus eliminating the need to implant a stent in the eye as with existing stent procedures.
"The prevalence of glaucoma is estimated to continue to increase substantially over the next nearly 20 years, and there remains a real need for new and alternative treatment options. Through our distribution agreement and equity stake in Sanoculis, we are strengthening our commitment to seek and make available new glaucoma treatment options for our customers and patients," said Joseph C. Papa, CEO, Bausch + Lomb. "As a global eye health leader with a fully integrated eye care portfolio, Bausch + Lomb remains committed to holistically addressing eye health problems, particularly in continuing areas of unmet need like glaucoma."
"Both the distribution agreement and investment are a significant milestone for Sanoculis, because they demonstrate the strong trust Bausch + Lomb has in our technology. Together they will enable Sanoculis to expand its foothold and customer base in Europe. Bausch + Lomb's extensive distribution footprint in Europe will ensure that many additional glaucoma specialists and their patients will have access to MIMS," said Nir Israeli, co-founder and CEO, Sanoculis. "We believe MIMS will be a strong complement to Bausch + Lomb's portfolio of products and will further position Bausch + Lomb's leadership in the surgical glaucoma segment."
