DALLAS, Aug. 2 /PRNewswire-FirstCall/ -- Refocus Group, Inc. , a medical device company engaged in the research and development of treatments for eye disorders, today announced that the company and its Scleral Spacing Procedure are profiled in "Trends In Ophthalmic Surgery: The Grey Population," a newly released report from Clinica Reports, a leading publisher of business and market intelligence reports for the global medical device and diagnostic industries. The report provides insights into emerging and early-stage technologies and profiles nine "leading companies competing in the ophthalmic surgical arena."
In the report, Refocus Group's Scleral Implant and Scleral Spacing Procedure is discussed as a potential treatment for three critical eye disorders: presbyopia, primary open-angle glaucoma and ocular hypertension. These eye disorders are becoming far more prevalent as the world's "Baby Boomer" population ages. The report notes that "the potential market size for refractive surgical solutions aimed at correcting presbyopia is huge, considering that the risk of developing presbyopia in later life is virtually 100 percent." As a result, "it is believed that the surgical market for presbyopic correction will gather momentum at a much faster speed than it originally did for LASIK," the report states.
"Advances in ophthalmic surgical technology have produced more efficient and less invasive procedures that minimize pain and result in improved patient outcomes, fewer post-surgical complications and faster recovery times," said Petula Coutinho, senior analyst for Clinica Reports. Clinica Reports is part of PJB Publications, a business unit of Informa Group PLC in the United Kingdom.
"Refractive surgeons have long viewed presbyopia as the 'Holy Grail,' the last frontier in eye care, while glaucoma remains a leading cause of blindness impacting between 100 and 150 million people worldwide as reported by Clinica Reports," said Terry Walts, president and CEO of Refocus Group. "This new report correctly notes the promising results for our technology to treat both presbyopia and glaucoma -- and potentially without the inherent limitations, complications and/or irreversibility of alternative approaches available or under development today."
As previously announced, Refocus Group is currently conducting U.S. Food and Drug Administration Phase II clinical trials of its Scleral Implant and Surgical Spacing Procedure for the treatment of presbyopia. The company's ability to continue the clinical trials is subject to obtaining adequate financing. To purchase a copy of the Clinica Report, "Trends in Ophthalmic Surgery: The Grey Population," go to http://www.pjbpubs.com/clinica_reports/index.htm, or call 212-262-8230.
About Refocus Group's Scleral Spacing Procedure
Refocus Group's Scleral Spacing Procedure for surgically treating presbyopia, primary open-angle glaucoma and ocular hypertension utilizes four scleral implants, each about the size of a small grain of rice, which are surgically implanted just under the surface of the sclera (white of eye) in four quadrants. Presbyopia is a vision disorder that affects virtually 100 percent of the population over age 40, while glaucoma affects millions worldwide and is a leading cause of blindness. The surgical procedure is the same for presbyopia, glaucoma and/or ocular hypertension. For these latter two conditions, the company believes that the procedure helps restore the natural base-line tension in the ciliary body, allowing for improvement in the natural drainage of the eye and the lowering of intraocular pressure. In the case of presbyopia, the company believes that the procedure helps reduce the crowding of the underlying tissues surrounding the crystalline lens, allowing the muscles to once again naturally reshape the lens and accommodate (focus) the eye. The uniqueness of the company's technology is that it does not remove tissue from the eye, does not affect the cornea and is believed to be fully reversible -- unlike LASIK or treatments involving the permanent removal and replacement of the crystalline lens with an intraocular lens. The procedure can be performed on an outpatient basis under topical or local anesthesia.
About Refocus Group
Refocus Group is a Dallas- based medical device company engaged in the research and development of treatments for eye disorders. Refocus holds over 100 domestic and international pending applications and issued patents, the vast majority directed to methods, devices and systems for the treatment of presbyopia, ocular hypertension, primary open-angle glaucoma and macular degeneration. The company's most mature device is its patented scleral implant and related automated scleral incision handpiece and system, used in the Scleral Spacing Procedure for the surgical treatment of presbyopia, primary open-angle glaucoma and ocular hypertension in the human eye. See the company's public filings at http://www.sec.gov/ for a discussion of the company's financial condition.
FORWARD LOOKING STATEMENTS:
This release contains certain "forward-looking statements" relating to the business of Refocus Group, which can be identified by the use of forward- looking terminology such as "believes," "expects," "anticipates" or similar expressions. Such forward looking statements involve known and unknown risks and uncertainties, including uncertainties relating to being able to continue as a going concern, assumption of manufacturing, marketing an distribution functions from a former licensee, product development, regulatory actions or delays, the ability to obtain or maintain patent or other proprietary intellectual property protection, market acceptance, physician acceptance, third party reimbursement, capital requirements, competition in general and other factors that may cause actual results to be materially different from those described herein as anticipated, believed, estimated or expected. Certain of these risks and uncertainties are or will be described in greater detail in our filings with the Securities and Exchange Commission. Refocus Group is under no obligation to (and expressly disclaims any such obligation to) update or alter its forward-looking statements whether as a result of new information, future events or otherwise.
Refocus Group, Inc.