6 January 2014
Ellex Expands Glaucoma Product Offering Through Acquisition of Canaloplasty Business
6 January 2014. Adelaide, Australia. Ellex Medical Lasers Limited (ASX:ELX), a pioneer in medical technologies for the diagnosis and treatment of eye disease, today announced that it has recently acquired the canaloplasty business of US-based iScience Interventional, Inc., which comprises the world-leading iTRACK™ 250 microcather for the treatment of mild-moderate glaucoma.
A degenerative disease, glaucoma is the leading cause of blindness in North America and Europe and the second leading cause worldwide. It is most often associated with an increase of pressure inside the eye, which, over time, can result in irreversible loss of vision.
Canaloplasty is an advanced, minimally invasive procedure for the treatment of mild-moderate glaucoma.
Offering significant advantages to traditional (trabeculectomy) glaucoma surgery, it can also be used in conjunction with existing laser and drug based glaucoma treatments.
Clinical studies have shown canaloplasty to be as effective as traditional surgery in lowering intraocular pressure (IOP) and can be performed in conjunction with cataract extraction, with the added benefit of reducing the need for ongoing glaucoma medications. It also offers a high benefit-risk ratio and is quicker to perform, taking approximately 10-25 minutes.
According to Ellex CEO, Tom Spurling: “This acquisition is very exciting. The new canaloplasty business will allow us to provide our existing customers with a complementary product offering for the treatment of glaucoma. We are also pleased to have existing, iTRACK™250 customers join Ellex.”
“Combined with our SLT laser product portfolio, which targets the early stage of glaucoma, iTRACK™ 250 will enable Ellex to cement its position as the global leader in early to moderate glaucoma treatment intervention,” added Mr. Spurling.
The business will trade as “Ellex iScience, Inc.”. Production of the iTRACK™ 250 will continue to be undertaken out of the existing FDA-approved facility at Menlo Park in the Bay Area of San Francisco, California, whilst expansion of the canaloplasty clinical training team will commence immediately in order to better support existing and new customers.
Ellex (Ellex Medical Lasers Limited) is a pioneer in the design and manufacture of ophthalmic laser and ultrasound systems used by ophthalmologists to diagnose and treat eye disease. With more than 20,000 systems delivered to the market, Ellex has evolved since 1985 from a manufacturing company of primarily OEM products, to direct marketing of its own branded products through subsidiaries in the United States, Japan, Germany and Australia, and a network of distribution partners in more than 100 countries.
The Ellex USA business is headquartered in Minneapolis, Minnesota, and includes a team of 20 people across a number of sales and service functions. The sales performance of Ellex USA business has been particularly strong during the period since July 2013, when it began selling Ellex’s industry-leading SLT laser technology following the expiration of a patent, which, until then, had prevented SLT sales in the US market.