Medical Device, NVDP
Yolia HealthWebsite: http://www.yolia.com/
Presbyopia is a condition that causes the inability to focus on near objects. It is a condition that affects everyone over the age of 40 and There are currently over 100 million presbyopes in the us, with 11,000 new CASES each day. Currently, reading glasses, surgery, or lifelong contact lenses are the only solution and those solutions often correct near distance vision at the expense of far distance vision.
The company’s True vision treatment (TVT) is a non-invasive and fully reversible procedure for treating presbyopia and low refractive vision problems like myopia. TVT is self-administered by the patient in his or her own home. It employs a combination of personalized gas-permeable contact lenses and specially formulated enzymatic eye drops—which,when used together, safely modifies the sphericity of the patient’s cornea leading to superior vision.
After only 7 days of treatment with TVT patients are able to stop using the personalized contact lenses, specially formulated eye drops and their reading glasses for up to several months at a time before retreatment with TVT is needed.
The total market includes anyone who is over 40 years old. In the us that amounts to 100 million individuals and a dollar value of $150 billion. Of those 100 million individuals roughly 50% have severe enough vision loss to warrant treatment. Of those 40% have the disposable income to invest in cosmetic treatments such as TVT. Thus the target market in the us is 20 million individuals who are potential customers.
The worldwide contact lens market is estimated to be worth $8.3 billion by 2014. the lenses addressing presbyopia only account for 3% of the market showing that is currently under-served and ripe for new entry.
Ready to Grow
- Setup contact lens development center in Arizona
- Scale up operations and strengthen management team
- Commercially deploy V1.1 of lens in Mexico
- Begin clinical trials in the us for FDA approval
- Explore strategic/commercial partnerships and licensing opportunities for markets outside of Mexico
- Begin R&D of v2.0 (drug eluting contact lens)
CEO Alberto Osio, graduate of MIT’s Sloan Business School, leads a team of world-renowned pioneers in the field of opthomalogy, orthokeratology, chemistry and bioengineering. They are rounded out by key management and advisory members with experience in manufacturing operations and venture capital formation.