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

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

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 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 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 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.
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

ILSE White Paper Profiles New Jersey’s Innovators and Pipeline of Early-Stage Life Science Companies

UNION, N.J. — Institute for Life Science Entrepreneurship (ILSE) at Kean University has released “Profiles in Innovation,” the second in a series of white papers examining the state of innovation in New Jersey. “Profiles in Innovation” showcases exciting advances in healthcare with a focus on therapeutics, diagnostics, devices, research tools and other technologies being discovered and developed in New Jersey. READ PRESS RELEASE

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.