Eckuity Joins Bausch + Lomb in an Equity Investment in Sanoculis

NEW YORK and TEL AVIV, Israel, Jan. 25, 2023 /PRNewswire/ -- Eckuity, a New York and London based venture capital investor has invested alongside Bausch + Lomb in Sanoculis, an Israeli ophthalmic medical device company, as part of the Series C round of funding.

Sanoculis and Bausch + Lomb have entered into an exclusive European distribution agreement for Sanoculis' Minimally Invasive Micro Sclerostomy ("MIMS^®"), an innovative minimally invasive surgical procedure for the treatment of glaucoma.

According to the World Glaucoma Association, glaucoma is the most common cause of irreversible blindness, and it is estimated that 79.6 million individuals had glaucoma in 2020, a number that is expected to rise to 111.8 million by 2040.¹MIMS^® is a stentless, simple and fast glaucoma treatment that effectively lowers intraocular pressure without the need for invasive surgery. MIMS^®, which is CE-marked, creates a sclero-corneal drainage channel during the surgery, thus eliminating the need to implant a stent in the eye as with existing stent procedures.

"Both the distribution agreement and investment are a significant milestone for Sanoculis, because they demonstrate the strong trust Bausch + Lomb has in our technology. Together they will enable Sanoculis to expand its foothold and customer base in Europe. Bausch + Lomb's extensive distribution footprint in Europe will ensure that many additional glaucoma specialists and their patients will have access to MIMS^®," said Nir Israeli, co-founder and CEO, Sanoculis.

"We believe MIMS® will be a strong complement to Bausch + Lomb's portfolio of products and will further position Bausch + Lomb's leadership in the surgical glaucoma segment," said Nir Israeli, co-founder and CEO, Sanoculis.

"MIMS^® can be easily used together with cataract surgery, and it fits most glaucoma patients. The clinical data from Europe demonstrates efficacy similar to trabeculectomy with fewer side effects. The fact that nothing is left behind keeps the door open for future therapeutic options, which is a major advantage," said Vishal Jain, Managing Partner at Eckuity.

Additionally, the companies have entered into an option agreement, pursuant to which Bausch + Lomb has an option to purchase all of Sanoculis' assets.

Eckuity is a leading global venture capital investor. Eckuity actively invests in early-stage life sciences, healthcare and tech companies that can deliver a strong positive impact on healthcare outcomes, wellness, and enhancement of the human condition. Based in New York, London, and Paris, the firm brings together a team of global investment professionals with strong scientific, medical and business expertise. Eckuity actively partners with ambitious entrepreneurs to create value and accelerate success. Eckuity.com

Sanoculis Ltd. is a medical device company which develops an innovative surgical procedure for the treatment of glaucoma. This procedure is safe, effective and simple to perform and is intended to supplement currently available surgical solutions in a multi-billion international market. For further information regarding the company and the MIMS^® procedure, please visit www.sanoculis.com.

SOURCE Eckuity