Allotex, a private company developing the TransForm Corneal Allograft (TCA) for the treatment of presbyopia, has closed on financing from a strategic investor to fund its upcoming European clinical trials.
Terms of the funding were not discosed.
The company, founded in 2016 by David Muller, PhD, and Professor Michael Mrochen, PhD, has a research facility in Zurich, Switzerland with production and corporate offices in Boston.
The TCA is created using natural human corneal tissue which has been shaped using high precision patented and proprietary technology. These shaped lenticules can be placed in or on a patient’s natural cornea with the aim of reducing or eliminating the need for wearing reading glasses. Unlike other similar devices already on the market the TCA has no biocompatibility issues because the natural collagen does not induce any immune response reactions. The safety of this approach has been established by over 50 years of corneal research and the company believes that the recent advances in lasers and metrology will allow the creation of precision implants and the predictable correction of presbyopia.
According to the company’s Medical Advisory Board, including Peter Hersh, MD, Stephen Slade, MD, and Vance Thompson, MD, “The Allotex inlay represents a major advancement in corneal tissue micro-engineering. Unlike current artificial inlays, the enhanced biocompatibility of lenticules prepared from actual corneal tissue ushers in a new era of refractive surgery by tissue addition. These novel products promise to improve the visual function of many patients.”
Over the last 2 years, the Allotex team has developed the processes and capabilities that allow us to make precisely shaped, natural implants that are 1/3 the thickness of a human hair. Dr. Muller stated that “This funding will allow us to complete a multicenter clinical study to demonstrate the safety and effectiveness of the TCA. The study will commence later this year and take place at prestigious ophthalmic centers in the UK, Ireland, Belgium, Austria, Switzerland, and France.”