07 Jul 2020
Nova Eye Medical Acquires Molteno's Glaucoma Drainage Device Portfolio
Nova Eye Medical Limited, formerly known as Ellex Medical Lasers until the sale of its core business last month, has completed the acquisition of ophthalmic assets from Molteno Ophthalmic Limited (Molteno), including the proprietary Molteno3® glaucoma drainage device (GDD) platform.
Supported by more than 50 years of scientific and clinical research and implanted in thousands of patients worldwide, the Molteno3® GDD platform has been clinically validated to deliver consistent, long-term reduction in intraocular pressure (IOP) in cases of severe or complex glaucoma. It has also been shown to offer the benefit of improved practice efficiency via a shorter surgical time.
According to Joe Bankovich, President of Nova Eye Medical, Inc, the Molteno3® is widely regarded as the industry’s gold-standard GDD technology platform. “Molteno® has the longest and most comprehensive history of any of the GDDs available on the market. Prof. Anthony Molteno is responsible for many industry firsts. His research has contributed to a comprehensive understanding of GDD surgery that has informed each evolution in Molteno design – and has culminated in the advanced Molteno3® S-Series.”
“Despite offering enhanced surgical utility and optimized clinical outcomes, Molteno3® has yet to find its rightful place at the top of the market. We will leverage our existing glaucoma-focused sales and marketing infrastructure to drive improved market penetration of the Molteno3®,” added Mr. Bankovich.
The acquisition of the Molteno3® also supports the trajectory of Nova Eye Medical to develop a comprehensive suite of glaucoma treatment technologies.
“With the Molteno3®, we will be able to offer our ophthalmologist customers a portfolio of treatment technologies that cover all stages of the glaucoma disease process – starting with our atraumatic and tissue sparing ab-interno iTrack™ canal-based glaucoma surgery for cases of mild-moderate glaucoma.”
Nova Eye Medical has also acquired the lease on Molteno’s manufacturing facility in Dunedin, New Zealand. Additionally, the Company is pleased to announce that it has entered into a consulting agreement with the Molteno CEO, Dr. Nina Molteno, for a three-month period to assist with the transition of Molteno’s operations into Nova Eye Medical.
“We’re excited to welcome the talented Molteno® employees to the Nova Eye Medical organization to help execute our vision to develop a suite of novel treatment technologies that advance clinical outcomes and improve patient quality of life,” said Mr. Bankovich.