Ellex continues to undergo change, following the pending sale of its laser and ultrasound business, with its interim CEO, Maria Maieli, stepping down to spend more time with her family. Ms Maieli had also worked with the company as Chief Financial Officer and Company Secretary. Her resignation was effectice 18 February, when Ellex’s founder and Chair, Victor Previn assumed management responsibilities in partnership with Ellex’s current VP of Global Operations Keith Byrne.
Ellex announced the planned sale of its lasers and ultrasound business to the French company Lumibird Group SA in January. Following the anticipated sale completion on 1 May 2020, Lumibird plans to continue to operate the laser and ultrasound business in Adelaide, under the brand name Ellex, and with existing staff.
The Lumibirde transaction will see the formulation of a new ophthalmic business, with a sharpened focus on the growing market for glaucoma treatment technologies, underpinned by the proprietary iTrack glaucoma surgery device. The iTrack device is showing strong growth in China and the US, however take up in Australia has been slower, having not yet gained approval as a prosthetic device.
The new business will also retain its proprietary 2RT for early age-related macular degeneration. Following the release of initial, multi-centre clinical trial results in 2018, 2RT will remain in clinical development and will undergo rigorous clinical investigations to support the company’s global commercial roll-out. The new business will operate under a new brand name and will continue to be listed on the Australian Securities Exchange.