HOYA to Invest in InnFocus, a Glaucoma Device Company
HOYA to Invest in InnFocus, a Glaucoma Device Company
HOYA Group announced today that it decided to invest in InnFocus, Inc., a Miami-based venture that developed the InnFocus MicroShunt(TM) to treat open angle glaucoma.
The InnFocus MicroShunt(TM) is a small tube (less than 1cm in length) used to lower intraocular pressure in patients with open angle glaucoma. It is made of a soft biocompatible material that minimizes damage to tissue and is designed to significantly reduce operation time.
InnFocus received authorization from the FDA to begin the Phase I trial of the InnFocus MicroShunt(TM) to treat open angle glaucoma. The trial will be the first to use trabeculectomy with Mitomycin C as a study control. The Company already has received CE Mark in Europe.
Quoting InnFocus President, Dr. Leonard Pinchuk, “We believe that the excellent clinical results achieved by the InnFocus MicroShunt in earlier clinical evaluations indicate that the device will perform well against the current gold standard of trabeculectomy with Mitomycin C. An ongoing study is showing that the InnFocus MicroShunt(TM) can lower intraocular pressure by 50%-60% with the average pressure residing between 10 and 12 mmHg. This is particularly important in view of many well-documented studies showing that reducing pressure below 14 mmHg arrests progression of the disease. Approximately 90% of our patients are below 14 mmHg and a similar number are totally off of glaucoma medication. The key to our success is our proprietary biomaterial which demonstrates a clinically insignificant foreign body reaction in the eye. We are very excited that HOYA chose to invest in our technology and company.”
HOYA and Saints Capital Everest led a Series B investment round of $13.4 million in InnFocus.
“HOYA has a well-established global portfolio of ophthalmic product companies. In addition to continuing innovation in intraocular lenses for treatment of cataracts, ophthalmic lenses for vision correction, and contact lenses for lifestyle enhancement, we have chosen an investment in InnFocus to continue our expansion efforts in ophthalmology,” said Taro Hagiwara, Executive Officer, Technology, of HOYA Group.
About InnFocus, Inc.: InnFocus, Inc. is a privately-held company headquartered in Miami, Florida. Company scientists and engineers are global leaders in the development of highly biocompatible biomaterials and medical devices. The InnFocus MicroShunt(TM) is the first of what the company expects to be many, medical devices incorporating these materials in the eye. The InnFocus MicroShunt(TM) was developed in collaboration with the University of Miami, Miller School of Medicine, Bascom Palmer Eye Institute.