Bausch + Lomb Has Made an Equity Investment within Sanoculis and Has Entered into an Exclusive European Distribution Agreement for MIMS® Minimally Invasive Surgical Procedure
VAUGHAN, ON and TEL AVIV, Israel , July 28, 2022 /PRNewswire/ — Bausch & Lomb Corporation (NYSE/TSX: BLCO) (“Bausch + Lomb”), a leading global eye health company dedicated to helping people see better to live better, and Sanoculis, an Israeli ophthalmic medical device start-up company, today announced they have entered in to strategic agreements designed to address unmet needs in glaucoma. The companies have entered into an exclusive Western distribution agreement for Sanoculis’ Minimally Intrusive Micro Sclerostomy (“MIMS ® “), an innovative minimally invasive surgical procedure for the treatment of glaucoma. Additionally, Bausch + Lomb has made an equity investment in Sanoculis as part of a Series C round associated with funding.
According to the World Glaucoma Association, glaucoma is the most common cause of irreversible blindness, and it is estimated that 79. 6 million individuals had glaucoma in 2020, a number that is expected to rise to 111. 8 million by 2040. 1 MIMS ® is a stentless, simple and fast glaucoma treatment that will effectively lowers intraocular pressure without the need for invasive surgery. MIMS ® , which will be CE-marked, creates a sclero-corneal drainage channel during the particular surgery, thus eliminating the need to implant the stent within the eye as with existing stent procedures.
“The prevalence of glaucoma is usually estimated in order to continue to increase substantially over the next nearly 20 years, and there remains a real need for new plus alternative treatment options. Through our distribution contract and collateral stake in Sanoculis, we are strengthening our commitment to seek and make available new glaucoma treatments for our own customers and patients, ” said Joseph C. Papa , CEO, Bausch + Lomb. “As a global vision health leader with a fully integrated attention care portfolio, Bausch + Lomb remains committed to holistically addressing eyesight health problems, particularly in continuing areas of unmet need like glaucoma. inch
“Both the particular distribution agreement and investment are a significant milestone with regard to 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 within Europe. Bausch + Lomb’s extensive distribution footprint in Europe will ensure that many additional glaucoma specialists plus their patients will possess access to MIMS ® , ” said Nir Israeli, co-founder and TOP DOG, Sanoculis. “We believe MIMS® will be a strong complement to Bausch + Lomb’s profile of products and will certainly further position Bausch + Lomb’s leadership in the surgical glaucoma segment. inch
“Having operated on a dozen patients along with the MIMS ® device and procedure, I believe the device only requires a very short learning curve, in fact it is a safe alternative in order to stent procedures, ” said Ike Ahmed , healthcare director plus professor, Prism Eye Institute, Canada . “MIMS ® can be easily used together with cataract surgical treatment, and it fits the majority of glaucoma individuals. The clinical data from Europe demonstrates efficacy similar to trabeculectomy with fewer side effects. The fact that nothing is left behind keeps the door open regarding future therapeutic options, which is a major advantage. ”
Additionally , the companies have entered into an option agreement, pursuant to which Bausch + Lomb has an option to purchase all of Sanoculis’ assets.
Sanoculis Ltd. is really a medical gadget start-up company which develops an innovative surgical procedure intended for the treatment of glaucoma. This procedure is safe, effective and simple to perform and is intended to supplement currently available surgical solutions in a multi-billion international market. For further information regarding the company and the MIMS ® process, please visit www.sanoculis.com .
Regarding Bausch + Lomb
Bausch + Lomb is dedicated to protecting and enhancing the gift of sight for millions of people around the particular world – from the moment associated with birth through every phase of life. Its comprehensive portfolio of more than 400 items includes contact lenses, lens care products, eye maintenance systems, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic medical devices and instruments. Founded in 1853, Bausch + Lomb has a significant worldwide research plus development, manufacturing and commercial footprint with more than 12, 000 employees and a presence in nearly 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario with corporate offices in Bridgewater, New Jersey . For more information, visit www.bausch.com and connect with us on Twitter , LinkedIn , Facebook and Instagram .
This news release may contain forward-looking statements, which may generally be identified by the use of the words “anticipates, ” “hopes, inch “expects, ” “intends, inch “plans, ” “should, inch “could, ” “would, inch “may, ” “believes, inch “estimates, ” “potential, inch “target, ” or “continue” and variations or comparable expressions. These statements are based upon the particular current expectations and beliefs of management and are usually subject to certain risks plus uncertainties that could trigger actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, but are not limited to, the risks and uncertainties discussed in Bausch + Lomb’s filings with the U. S. Securities plus Exchange Commission and the particular Canadian Securities Administrators, which usually factors are incorporated herein by reference. They also include, but are usually not restricted to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that will pandemic plus its potential effects, the particular severity, duration and future impact of which are highly uncertain and cannot be predicted, and which might have the material adverse impact on Bausch + Lomb, including but not limited to its project development timelines, launches and costs (which may increase). Readers are cautioned not to place undue reliance on any of these forward-looking statements. These types of forward-looking claims speak only as associated with the date hereof. Bausch + Lomb undertakes no obligation in order to update any of these forward-looking statements to reflect events or circumstances after the day of this news release or even to reveal actual outcomes, unless required by law.
- World Glaucoma Association. Retrieved from Glaucoma Information Statistics – Glaucoma Information (glaucomapatients. org) . Retrieved July 19, 2022 .
MIMS ® is a trademark of Sanoculis.
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