Bausch + Lomb Has Made an Equity Investment in 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 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®“), 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 of 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 effectively 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.”
“Having operated on a dozen patients with the MIMS® device and procedure, I believe the device only requires a very short learning curve, and it is a safe alternative to stent procedures,” said Ike Ahmed, medical director and professor, Prism Eye Institute, Canada. “MIMS® can be easily used together with cataract surgery, and it fits most glaucoma patients. 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 for 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 a medical device start-up company which develops an innovative surgical procedure 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® procedure, please visit www.sanoculis.com.
About Bausch + Lomb
Bausch + Lomb is dedicated to protecting and enhancing the gift of sight for millions of people around the world – from the moment of birth through every phase of life. Its comprehensive portfolio of more than 400 products includes contact lenses, lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products and ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb has a significant global research and 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,” “expects,” “intends,” “plans,” “should,” “could,” “would,” “may,” “believes,” “estimates,” “potential,” “target,” or “continue” and variations or similar expressions. These statements are based upon the current expectations and beliefs of management and are subject to certain risks and uncertainties that could cause 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 and Exchange Commission and the Canadian Securities Administrators, which factors are incorporated herein by reference. They also include, but are not limited to, risks and uncertainties caused by or relating to the evolving COVID-19 pandemic, and the fear of that pandemic and its potential effects, the severity, duration and future impact of which are highly uncertain and cannot be predicted, and which may have a 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 forward-looking statements speak only as of the date hereof. Bausch + Lomb undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect 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.
Any other product/brand names are trademarks of the respective owners.
© 2022 Bausch & Lomb Incorporated or its affiliates.
SOURCE Bausch + Lomb Corporation