Hoya Group Invests in SalutarisMD™ Wet AMD Therapy Technology
TOKYO, Japan (March 26, 2015) – HOYA Group announced today that it has closed financing in Salutaris Medical Devices (SalutarisMD®). SalutarisMD will use the funding to further its growth strategy in developing its patented medical device designed for minimally invasive therapy of wet age-related macular degeneration (wet AMD).
Wet AMD is a leading cause of vision loss and blindness that primarily affects older adults.
“Our investment in SalutarisMD continues HOYA’s commitment to establishing strong relationships with companies developing next-generation products for medical care, particularly in the area of minimally invasive therapeutic technologies,” said Augustine Yee, Executive Officer, Chief Legal Officer and Head of Corporate Development and Affairs at HOYA Corporation. “The SalutarisMD technology offers the potential to meaningfully impact the management of wet AMD. We are pleased to build this strategic relationship with an innovative company in our growing Life Care space.”
“The currently available treatment regimens for wet AMD are costly, burdensome and there is a large unmet need for more effective therapies. We are excited about our partnership with HOYA that will further enable our commercialization efforts,” said Dr. Laurence Marsteller, CEO of SalutarisMD.
The SalutarisMD device is designed to provide precise lesion-specific targeting. The procedure is performed using a hand-held instrument under the direct care and expertise of the treating retina specialist to deliver localized tissue irradiation, customized for each patient. The SalutarisMD device is designed as a practical, clinic-based procedure.
Specific business terms of the agreement were not disclosed.
Caution: Investigational Device. Limited by Federal Law to Investigational Use in the United States.
HOYA Corporation (7741:Tokyo) is a diversified, multinational company and leading supplier of innovative and indispensable high-tech and healthcare products. HOYA is active in two main business segments: The Life Care segment encompasses health care areas such as eyeglass lenses and the operation of contact lens retail stores, as well as medical related areas such as intraocular lenses for cataract surgery, medical endoscopes, surgical equipment and artificial bones and implants. HOYA’s Information Technology segment focuses on electronics products for the semiconductor industry and LCD panels, glass disks for HDDs and optical lenses for digital cameras and smartphones. The HOYA Group comprises over 100 subsidiaries and affiliates and over 34,000 people worldwide. For more information, please visit www.hoya.com.
SalutarisMD® (Salutaris Medical Devices, Inc. and Salutaris Medical Devices, Ltd.) is a privately held, venture capital funded, pre-revenue medical device company dedicated to developing minimally invasive, patient-centric treatments for vision loss. For more information visit www.SalutarisMD.com or www.SalutarisMD.co.uk.
About Wet AMD:
Age-related macular degeneration (AMD) is one of the leading causes of blindness in the developed world. Wet AMD has a profoundly negative impact on quality of life and imposes a considerable financial burden on healthcare systems. Early diagnosis and treatment of wet AMD is essential in reducing the risk of severe loss of vision.