July 28, 2021
“Myopia is a progressive condition that requires a lifetime of management and care starting in childhood and extending through adulthood,” said Dr. Stephen Snowdy, CEO, VTI. “Myopia robs people of clear vision and exposes them to an elevated lifetime risk of blindness and other serious eye conditions. The threat is global and will require a portfolio of products to successfully blunt the disease on a global scale.
“With over $12 billion of global addressable market, and its serious health impacts, myopia management is a must-address condition,” he continued. “This agreement with Innovatus/EyeSpace adds more products to the VTI portfolio, offering significant medical benefits to patients and practitioners, while adding cost-efficient sales to VTI’s top line.” (For more from Dr. Snowdy, see RMM‘s interview here: VTI Announces Upcoming RCT in New Video Interview.)
Innovatus Technology was started by optometrists to develop software that simplifies and automates the design of custom contact lenses, such as those used in OrthoK and other gas permeable contact lens applications. The software, called EyeSpace, is now used by ECPs in Australia, New Zealand, South Africa, Russia, Mexico, Colombia, and the United States, and it is expanding rapidly across the globe.
Under the agreement, VTI will be the exclusive sales and distribution partner in the U.S. and Canada for Forge Ortho-K lenses and BeSpoke corneal gas permeable contact lenses, both of which are ordered using the EyeSpace software system. VTI expects its sales of Forge Ortho-K and BeSpoke gas permeable products to begin in August.
“Presently, orthokeratology contact lenses are prescribed by less than 5% of ECPs globally due to the barriers associated with trial and inventory-based lens fitting of most commercially available lens designs,” said Lachlan Hoy, Co-Founder, Optometrist, and Managing Director at Innovatus. “Our mission is to make the prescription of custom-made contact lenses easy, and this is why we created EyeSpace. Inventory or trial fitting is time consuming, uncomfortable for the wearer, and requires skills that are not a standard of ECPs. Instead, EyeSpace utilizes the data from a corneal topographer, an instrument that maps the contour of the front of the eye, to calculate and simulate the fitting of a lens on eye. We are excited to have VTI leading our sales efforts in the U.S., helping us to reach a greater number of ECPs and patients in this significant market.”