OcuMedic

MEDIA & NEWS

OcuMedic, Inc. and Gelest, Inc. Enter Investment and Supply Agreement for Novel Contact Lens Drug Delivery System

Gelest exclusive supplier of chemistry for OcuMedic proprietary drug eluting contact lens and corneal bandage

MULLICA HILL, NJ (October 9, 2019) – OcuMedic, Inc., the developer of new proprietary , drug-eluting soft contact lens/clear corneal bandage technology to replace eye drops, today announced it has entered into an exclusive supply agreement and received a strategic investment from Gelest, Inc., a leading innovator in materials science and supplier to the global contact lens market.

 “Working together with Gelest we will be better able to leverage the OcuMedic intellectual property into a wide variety of applications using OcuMedic’s proprietary platform technology,” said Keith D. Ignotz, President and Chief Executive Officer of OcuMedic, Inc. “This strategic investment and exclusive supply agreement is a further validation of the OcuMedic technology and its potential to revolutionize the eye care market,”

“The exclusive supply agreement with OcuMedic represents a unique opportunity for our specialty acrylic monomers and reactive siloxane materials business to partner with a cutting-edge innovator in ocular drug delivery and further establishes Gelest as a leader in the development and manufacture of innovative materials for contact and intraocular lenses” said Ken Gayer, Chief Executive Officer of Gelest, Inc. “Our strategic investment in OcuMedic together with the exclusive supply agreement positions the companies to develop new-to-world technologies which match customized lens materials with selected medications”.

OcuMedic Technology Platform Applications —

The OcuMedic technology provides contact lens manufacturers the ability to deliver comfort agents to extend the wear time of daily-use lens. For ophthalmic pharmaceutical companies the platform provides a new ‘route of administration’ enabling a potentially enhanced ‘therapeutic index’ and provides new intellectual property over the conventional eye drop method in use for 150 years. The technology is designed to eliminate the patient’s therapeutic burden of having to treat themselves which can lead to compliance problems and associated complications that contribute to $70 billion in unnecessary follow up treatments per year.

Under terms of the agreement, Gelest will manufacture and supply OcuMedic’s key chemistry components necessary for the controlled release of drugs under OcuMedic’s intellectual property for clear or corrective extended-wear contacts /corneal bandages that deliver a wide-variety of drugs. Initial indications will be for the treatment of inflammation and pain for post cataract and LASIK surgery and corneal abrasions, as well as, under development conditions such as glaucoma and dry eye.

“An additional novelty of the OcuMedic technology is that eye care providers are already trained to deliver the technology and a wear time of seven days coincides with the recall standards of care whereby the provider places and replaces the device on a patient during a recall visit. The sustained drug release puts compliance into the hands of the providers and the patient is relieved of the burden of having to treat themselves,” Mr. Ignotz said.

Approximately six million Americans undergo some type of eye surgery every year – four million cataract and one million post-corneal abrasion surgeries and 900,000 LASIK procedures. More than three-million people in Europe undergo cataract surgery, annually. All patients require post-operative care which includes eye drops that can wash out quickly with only about 5% of the therapy reaching the target tissue. Eye drops can be hard to administer, and the low delivered concentration of medication tends to aggravate post-operative complications costing $70 billion per year. Dry eye disease affects greater than five million people in the U.S. and approximately 40 million worldwide and is the most frequent complaint and reason to visit an eye care professional in the U.S.  Approximately three million Americans suffer from blinding Glaucoma; worldwide, more than 60 million people are affected.

About OcuMedic, Inc. —

OcuMedic, Inc. is the developer of the world’s first, drug-eluting therapeutic lens/clear corneal bandage for the delivery of drugs for the global ophthalmic market. Invented by Mark Byrne, Ph.D. distinguished engineering professor and Founding Head of the Department of Biomedical Engineering at Rowan University, the therapeutic lens is a soft contact developed in the most widely used safe lens material that precisely controls the release of a “first line” anti-inflammatory drug that targets post-operative eye care to reduce healing time and costly complications. The device is a platform technology, with OcuMedic demonstrating controlled release of a number of therapeutics for the duration of wear, targeted at the large and growing surgery, dry eye, corneal abrasion, and glaucoma markets. For more information, visit https://ocumedic.net/.

About Gelest, Inc. —

Gelest, Inc., headquartered in Morrisville, Pennsylvania, is an innovator, manufacturer, and supplier of silicones, organosilanes, metal-organics, and specialty monomers and polymers for advanced technology end markets including medical device, life sciences, microelectronics, personal care, and other high technology end markets.  The company helps customers succeed by assisting them in the development and supply of chemistry to solve their most challenging materials science problems and to enable their new product technology.  In June 2019, Gelest acquired Bimax, a developer, manufacturer and supplier of specialty acrylate monomers and polymers for use in contact lenses, intraocular lenses, personal care products, coatings and adhesives, and other advanced technology applications. For more information, visit www.gelest.com.  

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Media Contact: Bill Wells – 404-281-7490, media@ocumedics.com                                                  Investor Contact: Keith Ignotz – 404-444-6030

Dr. Paul Karpecki Named Lead Optometric Advisor for OcuMedic, Inc.

Dr. Karpecki, a leading corneal health researcher, to assume key role on Company’s Scientific Advisory Board

MULLICA HILL, NJ (September 20, 2018) – OcuMedic, Inc., the developer of new, drug-eluting soft contact lens and clear corneal bandage technology, today announced the appointment of Paul Karpecki, OD, FAAO, as the company’s lead optometric advisor and member of its Scientific Advisory Board. His role with the company is in the development of its activities, communications, meetings and strategies relating to research and product development.

“Dr. Karpecki is a thought leader and pioneer in the field of corneal health research with a focus on dry eye – a condition that affects millions of people worldwide,” said Keith D. Ignotz, President and Chief Executive Officer of OcuMedic, Inc. “Dr. Karpecki’s insights and contributions to the commercialization of our technology will lead to better products that gain rapid uptake in the $16 billion global eye care therapeutic market toward replacing conventional eye drops.”

“Dr. Karpecki’s knowledge of the field is unmatched, and his acceptance of a leadership position with OcuMedic is a further validation of the potential of our technology to improve eye care for millions of people across the globe,” said Mark E. Byrne, PhD, Founding Head and Professor of Biomedical Engineering at Rowan University, inventor of the technology, and previously a distinguished professor at Auburn University and Chief Technical Officer of OcuMedic, Inc.

Dr. Karpecki is Director of Cornea Services at the Kentucky Eye Institute, and also, recently completed a preceptorship in retina at Retina Associates of Kentucky all in Lexington, KY. He also serves a director for the advanced ocular surface disease clinic at Gaddie Eye Centers in Louisville KY. He is also Associate Professor at the University of Pikeville Kentucky College of Optometry. Dr. Karpecki has moderated or chaired the Congressional Hearing on the Impact of Dry Eye Disease (July 2017), the Tear Film and Ocular Surface Society (TFOS) Symposium (September 2016), and the Dry Eye Summit (December 2014). He also served on the International Task Force on Dry Eye and the TFOS DEWS II Diagnostic Methodology sub-committee and is a TFOS Global Ambassador.


His clinical interests include cornea, dry eye, and retinal disease including age-related macular degeneration and diabetic retinopathy. He serves as a research investigator for numerous studies in these areas. He is the Chief Medical Editor for Review of Optometry. Dr. Karpecki has authored over 20 peer-reviewed publications and over 300 articles that have appeared in non-peer reviewed journals, as well as 7 book chapters. Selected as one of the 20 most influential in Optometry, he is a sought-after speaker who has given over 1000 invited lectures. Dr. Karpecki earned his Optometry degree from Indiana University (graduating with Honors and Beta Sigma Kappa). Following graduation, he went on to complete a Durrie Fellowship in Cornea and Refractive Surgery at Hunkeler Eye Clinic in Kansas City, Missouri, in affiliation with Pennsylvania College of Optometry.

OcuMedic is expected to begin clinical studies necessary for U.S. Food and Drug Administration (FDA) approval of its first product – drug-eluting therapeutic lens/clear corneal bandage for the delivery of drugs after surgery – this year, first as an in-vivo study for the FDA to navigate into the Phase 1 – 2 human trials in 2019.

The technology is covered by nine U.S. patents and is expected to be the first product of its kind on the market, once approved.

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 that can wash out quickly with only about 5% of the therapy reaching the target tissue. Eye drops can be hard to administer, and the low delivered concentration of medication tends to aggravate post-operative complications costing $70 billion per year. Dry eye disease affects greater than five million people in the U.S. and approximately 40 million worldwide and is the most frequent complaint and reason to visit an eye care professional in the U.S. Approximately three million Americans suffer from Glaucoma; worldwide, more than 60 million people are affected.

About OcuMedic, Inc. —
OcuMedic, Inc. is the developer of the world’s first, drug-eluting therapeutic lens/clear corneal bandage for the delivery of drugs for the global ophthalmic market. Invented by Mark Byrne, Ph.D. distinguished engineering professor and Founding Head of the Department of Biomedical Engineering at Rowan University, the therapeutic lens is a soft contact developed in the most widely used safe lens material that precisely controls the release of a “first line” anti-inflammatory drug that targets post-operative eye care to reduce healing time and costly complications. The device is a platform technology, with OcuMedic demonstrating controlled release of a number of therapeutics for the duration of wear, targeted at the large and growing surgery, dry eye, corneal abrasion, and glaucoma markets. For more information, visit https://ocumedic.net/

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(Editors please note: Image of Dr. Karpecki at https://goo.gl/U71PFX)

Media Contact: Bill Wells – 404-281-7490, media@ocumedics.com
Investor Contact: Keith Ignotz – 404-444-6030

OcuMedic invited presentation for BIO

BIO is the world’s largest trade association representing biotechnology companies, academic institutions, state biotechnology centers and related organizations across the United States and in more than 30 other nations. BIO members are involved in the research and development of innovative healthcare, agricultural, industrial and environmental biotechnology products. BIO also produces the BIO International Convention, the world’s largest gathering of the biotechnology industry, along with industry-leading investor and partnering meetings held around the world. BIOtechNOW is BIO’s blog chronicling “innovations transforming our world” and the BIO Newsletter is the organization’s bi-weekly email newsletter.” Subscribe to the BIO Newsletter.

Corporate members range from entrepreneurial companies developing a first product to Fortune 500 multinationals. We also represent state and regional biotech associations, service providers to the industry, and academic centers. Our members help foster a healthy economy by creating good-paying, biotechnology jobs. We also host the largest cost-savings program in the life sciences industry, BIO Business Solutions, which saved $360 million in aggregate for 3,700+ companies last year.

BIO also works towards enriching the industry with networking, partnering and education opportunities. We organize the BIO International Convention, the global event for biotechnology, along with many other industry-leading investor and partnering events held around the world. Arguably the industry’s leading partnering software, BIO One-on-One Partnering™ facilitates 50,000 face-to-face meetings each year among investors, biotechs, pharmaceutical companies, academic institutions and non-profits at live events.