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Eye healthcare is seeking more attention than ever! Numerous health tech startups are popping up with an innovative solution for common eye diseases like glaucoma. In fact, the human’s vision provides a major opportunity for companies and investors to capitalize on.
Controlled-release intraocular implant
Founded in 2012 by Professor Jean-Marie Rakic and other ophthalmologists, EyeD Pharma is developing an innovative drug delivery system based on a controlled-release intraocular implant.
Recently, the company secured funding of €28 million, including a capital increase of €8.2 million. This funding round was led by Fund Plus, the largest Belgian life sciences fund, along with Qbic II fund, one of the largest inter-university spin-off funds in Europe and well-known entrepreneurs like Gilles Samyn, François Blondel and Denis Knoops.
With this fund, the company will accelerate the development and production of innovative therapeutic solutions in ophthalmology, particularly for the treatment of glaucoma.
Glaucoma treatment made easy!
At present, EyeD Pharma is focusing on the treatment of glaucoma, an eye disease that mainly affects people over the age of 45. Traditionally, glaucoma is treated by administering eye drops every day for the rest of the patient’s life. Having said that, it causes local side effects such as eye irritation.
Loss of vision, if not treated!
If the patient is not treated or is inconsistent in taking the treatment, it might result in loss of vision. In a bid to make it easier, EyeD Pharma’s intraocular implant will allow the release of a precise amount of medication every day for 3 years.
Medical device placed inside the eye!
This controlled release will treat patients in a way that avoids local side effects and ensures that vision is preserved while significantly improving quality of life. For the unknown, this medical device is placed in the eye with a quick surgical intervention compared to that for cataracts.
Few nanograms per day!
EyeD Pharma’s implant is uniquely small (thickness of less than 1/3 of an mm) and capable of delivering a few nanograms of medication per day in an entirely controlled and stable manner over several years. In addition to glaucoma, this technology is used to treat other eye conditions as well. Since 2018, EyeD Pharma has also been engaged in the commercial distribution of ophthalmic surgery equipment in order to boost the finance.
According to Melanie Mestdagt, CEO of EyeD Pharma:
This financing round is another important step that will allow us to move forward in the development and production of the various implants, with the commencement of the clinical phase for our most advanced project scheduled for 2020. We will also continue to expand our team. There is significant growth in all areas. In December 2016, there were four of us. Since January 2017, we have hired an average of one new employee every month. In June, we will have a team of 36 people, supervised by a management team that is highly experienced in the development of pharmaceutical products.
Stay tuned to Silicon Canals for more updates in the tech startup world.