Timed Drug Delivery to the Eye Via Contact Lens/Bandage with Extended Wear



✔ Proprietary Contact Lens/Corneal Bandage
✔ Timed Drug Delivery to The Eye
✔ Speeds Healing/Reduces
✔ Complications/Lower Costs



Targeting Cataract/LASIK/Corneal Abrasions, Dry Eye and Glaucoma REPLACING EYE DROPS

To view OcuMedic Whitepaper

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Raising series A funds May 17, 2018
Volume 22, No. 96

Ocumedic aims for the clinic with drug-eluting, clear corneal bandage

By Stacy Lawrence, Staff Writer
Ophthalmic drugs and devices have proven a strong source of revenue growth as an aging, increasingly obese population aims to prevent eyesight deterioration. READ THE STORY



OcuMedic’s can literally… DIAL IN THE RELEASE OF DRUG FROM THE LENS OVER TIME delivering a therapeutic concentration of drug payload for the duration of wear.

“Our research shows imprinted lenses are expected to lead to higher efficacy for patients compared to topical eye drops by improving compliance and mitigating concentration peaks and valleys associated with multiple drops.”

Article 2/13/2018

SOLUTION

New Contact Lens Technology to Deliver Drugs Directly to Eye; Improve Healing for Millions after Surgery and Lasik


COMPELLING VALUE

There is a compelling value proposition for ophthalmologists and optometrists, patients, contact lens manufacturers, pharmaceutical companies and payers

Therapeutics soft lens designed to deliver pain and anti-infection drugs more evenly - replacing messy, less effective drops.


Our research shows imprinted lenses are expected to lead to higher efficacy for patients compared to topical eye drops by improving compliance and mitigating concentration peaks and valleys associated with multiple drops.

Therapeutics soft lens designed to deliver pain and anti-inflammation drugs more evenly - replacing messy, less effective drops


The current eye drops therapy market, which is being targeted by the OcuMedic therapeutics lens, is $16 billion worldwide market and growing at a compounded annual rate of six percent.

Actual Photos - Lab Technician Samuel H. Jones Innovation Center

The OcuMedics Market & Solution:

Currently ophthalmic topical eye drops wash out quickly with only ~5% of the drug getting to the desired site. Most eye drop therapeutic regimens require multiple drops per day and most patients miss their doses which leads to complication costing $70 billion per year. The OcuMedic’s solution is continuous dosing using contact lens with visual correction or a plano contact bandage providing more efficacious and convenient therapy DECREASING COMPLICATIONS and reducing HEALTH CARE COSTS.

Currently Optometrists in the US are enabled as physicians under Medicare and under state licensure dispense diagnostic and therapeutic agents. With the advent of “co-management” of patients undergoing cataract surgery (4million procedure/year) or Lasik (800K procedures/year) and post-corneal abrasions (1million/year) the Optometrist along with the Surgical Ophthalmologist are ideally suited to deliver OcuMedic’s therapy both by license and as the prevailing contact lens fitter in the case of the 33,000 US Optometrists. OcuMedic’s technology will provide clinicians a powerful, new tool to treat patients.


There is a compelling value proposition for ophthalmologists and optometrists, patients, contact lens manufacturers, pharmaceutical companies and payers
PROVIDERS / OPTHALMOLOGISTS & OPTOMETRISTS
For ophthalmologists and optometrists – OcuMedic’s solution delivers more efficacious eye therapy including increased patient compliance with drug regimen, optimal dosage, increased drug availability to the eye, prolonged drug activity, reduced body absorption, side effects, and toxicity – all leading to better outcomes reducing overall health care costs. Better outcomes also avoid additional patient visits, which is a cost to the provider.

OcuMedic has interviewed many ophthalmologists, optometrists, and key opinion leaders (“KOL(s)”) about their technology and interacted with them at international/national technical meetings and as they have presented their scientific results. Providers are very excited by OcuMedic’s progress and many ask when the products will be available. For example, one KOL wrote to OcuMedic saying “As a practitioner in a large OD/MD group with a high ocular disease concentration, I am very excited about the possibilities of your work. Compliance with patients is a huge problem. Sustained release in contacts has been talked about since I was in school in the mid 1980's but never the ability to control release for longer durations than eye drops. If drugs could be embedded in a silicone hydrogel contact and worn for multiple days, I feel much of the problems we see could be eliminated. Another problem we run into is post-op elderly patients having trouble putting their drops in.”

Ophthalmologists and optometrists will also be able to sell new products from their practices with higher margins as they will be able to prescribe and sell drug releasing lenses and be reimbursed as reimbursement codes exist.

BENEFICIARIES OF THE DRUG DELIVERY CONTACT LENS
FOR PATIENTS
For patients – OcuMedic’s solution delivers patient medication more effectively and conveniently eliminating multiple daily eye drops leading to less complications. Once the lens is placed on the eye, patients don’t have to worry about taking their medication or plan to take drops or stop their daily activity to administer drops. Also, in many cases, especially after corneal surgery or corneal abrasion, a lens can also decrease the pain associated with blinking by shielding the cornea.
FOR MANUFACTURERS
For contact lens manufacturers – OcuMedic’s solution leads to opportunities to license our technology and apply it to existing and new contact lens products thus extending their product lines to higher gross margin products typical in pharmaceuticals. OcuMedic also has technology that increases the comfort of contact lenses by releasing various comfort agents, which is the number one reason why contact lens users stop wearing lenses and the biggest problem facing contact lens manufacturers today, “patient drop-out!“ OcuMedic’s solution has relevant applications to improving contact lens wear comfort (i.e., eliminate dry eyes through extended release of comfort agents). Also, several contact lens manufacturers are subsidiaries of large pharmaceutical companies; therefore, opportunities exist to address additional consumer needs (e.g., corrective lenses and allergy) in an integrated solution with the potential for extended intellectual property coverage.
FOR PHARMACEUTICALS
For pharmaceutical companies – OcuMedic’s solution leads to opportunities to license resident technology and then combine it with pharmaceutical companies existing and/or new drugs to create and patent a new drug delivery system. Pharmaceutical companies will be able to protect/extend their patent rights on existing drugs close to patent expiration through OcuMedic’s drug delivery system.
FOR PAYERS & INSURERS
For payers and Insurance companies they want therapeutic products that deliver a measurable reduction in health care costs. OcuMedic plans to structure its clinical trials so the economics of shorter recovery times and/or a reduction for the risk of complications are measurable. Certain high risk surgical patients undergoing cataract surgery with existing conditions, i.e., diabetic retinopathy epiretinal membranes, history of retinal vein occlusion, macular degeneration may be observed for quicker and more controlled recovery.

New Contact Lens Technology to Deliver Drugs Directly to Eye; Improve Healing for Millions after Surgery and Lasik

Therapeutics soft lens designed to deliver pain and anti-infection drugs more evenly - replacing messy, less effective drops

The soft contact lenses, developed by biomedical researchers at Rowan University, are imprinted with anti-inflammatory or anti-biotic drugs that are deliver evenly over time potentially improving recovery time and reducing post-operative complications.


Approximately six million Americans undergo some type of eye surgery every year – four million cataract and one million post-corneal abrasion surgeries and 800,000 Lasik procedures.

All patients require post-operative care which includes eye drops which can wash out quickly, can be hard to administer or deliver a low concentration of medication all of which can aggravate post-operative complications. Approximately three million Americans suffer from Glaucoma, worldwide more than 60 million people are affected. Dry eyes affect about five million people in the U.S. and approximately 40 million worldwide.

MANAGEMENT TEAM

Keith Ignotz, MBA
President & CEO
Co-founded Freedom Meditech as President & COO, Onset President & CEO of DiaKine Therapeutics, Co-founded SpectRx as President & COO took public. Senior VP Allergan Humphrey $100M division of Allergan.
Dr. Mark Byrne
Co-founder & Chief Technical Officer
Distinguished Professor of Chemical and Biochemical Engineering & Founding Head of the Biomedical Engineering Department at Rowen University
Paul Byrne
Co-founder of OcuMedic
CBO 20+yrs McKinsey, PNC Bank Execu7ve, experience on corporate strategy, ops, distribu1on, sales. Mr. Byrne is the Co-founder of OcuMedic •  MBA, Harvard

ADVISORY BOARDS & CONSULTANTS



Dr. Fredrick Cahn, Chief Regulatory Officer. Ph.D. from the Massachusetts Institutive of Technology in Biophysics and a BS undergraduate degree in biology from the University of California, Berkeley. Awarded the Damon Runyon Foundation Postdoctoral Fellowship. The principal investigator on 10 SBIR grants and author on numerous peer reviewed publications.

SCIENTIFIC ADVISISORY BOARD

Lynn Winterton, Ph.D. –– Scientific Advisory Board Member. (BVG Solutions-Consulting) Prior Global Head of R&D CIBA Vision with over 30 years’ experience developing and commercializing multiple, innovative contact lenses on the market today in numerous countries. Dr. Winterton was also Global Director of Strategic Partnerships at CIBA Vision and has key regulatory and manufacturing experience in the contact lens space. Upon completion of OcuMedic’s first financing, Dr. Winterton will be issued 3% equity in common stock.

Ron Dadino –– Consultant, Regulatory Affairs. (Dadino Consulting) Prior J&J VP of Product & Process Scientific Solutions leading regulatory strategy for all combination products across J&J. He has more than 33 years in pharma and medical device sector. The former J&J (Cordis) VP of Combination Product Development led global approval for first drug eluting stent combination device resulting in $1B in sales. Consulting agreement is underway and should be executed within 30 days of the date of this report. The current terms of the proposed consulting agreement are as follows: 12 month term with successive renewal unless terminated by either party; compensation $300-$150 per hour with payment upon qualified financing.

CLINICAL ADVISISORY BOARD

Steve Hamilton, MD –– Clinical Advisor, Board Certified Ophthalmologist, specializing in corneal disease and surgery, currently in private practice with over 18 years of experience.

Meredith Voyles DVM –– Pre-Clinical Advisor, Board Certified Veterinary Ophthalmologist, Previously Professor of Ophthalmology at Auburn University, currently in private practice with over 15 years of experience, with specialty training treating corneal disease as well as preclinical studies.