2RT, a proprietary nano-pulse ophthalmic laser therapy for the treatment of intermediate age-related macular degeneration (iAMD) has been moved out from the umbrella of Nova Eye Medical Limited, and into a newly established company called AlphaRET Pty Ltd (AlphaRET).
The establishment of AlphaRET, a wholly owned subsidiary of Nova Eye Medical Limited, follows the latter’s divestment of the Ellex laser and ultrasound business on 1 July, 2020.
Divestment of the Ellex laser and ultrasound business, and reorganisation of 2RT will enable Nova Eye Medical Limited to focus efforts on the development of a portfolio of glaucoma treatment technologies.
2RT is arguably the biggest advance in AMD since anti-VEGF therapy used for the late stage of the disease or Wet AMD
It will also enable commercialisation efforts to be concentrated on 2RT. In the immediate term, AlphaRET will prioritise the USA regulatory pathway for 2RT, which includes the filing of an Investigational Device Exemption (IDE) with the US Food and Drug Administration (FDA) for a major clinical study. The aim of the study will be to obtain regulatory clearance from the FDA to treat iAMD patients with 2RT.
Commenting on the establishment of AlphaRET, Director of Nova Eye Medical, Mr. Tom Spurling said: “2RT is a major project and offers significant upside. Despite this opportunity, our core business remains firmly focused on glaucoma, underpinned by our proprietary iTrack and Molteno3 technologies. With the establishment of AlphaRET we will be able to better leverage the 2RT opportunity, while continuing to foster growth of our glaucoma treatment technology pipeline under the Nova Eye Medical brand.”
AMD is the world’s leading cause of blindness in people over the age of 50, with more than 55 million patients affected by AMD annually. To date, no treatment exists for the disease in its early stages i.e. iAMD.
2RT is based on seminal laboratory investigations performed by world-renowned retinal expert Prof. John Marshall PhD, FRCPath, FMedDSci (Institute of Ophthalmology, University College London, UK). Prof. Marshall is actively involved in the 2RT project and is a Board member of AlphaRET.
According to Prof. Marshall, 2RT represents a huge step forward in the treatment of AMD. “2RT is arguably the biggest advance in AMD since anti-VEGF therapy used for the late stage of the disease or Wet AMD. It is estimated that 30% of patients over 60 have some form of AMD and over 10% of this population will go on to lose some part of their vision from the late forms of this disease. 2RT is a significant breakthrough in the potential management of patients with the early stage of AMD,” he said.