By William McKeever, Senior Research Analyst
By NeoVista, Inc. is a privately held company based in Fremont, California, in the San Francisco Bay Area. The company is focused on the development of medical technologies that to treat wet age-related macular degeneration (AMD). Age-related macular degeneration (AMD) is a disease that affects older adults, and that gradually destroys sharp central vision. Central vision is needed in order to see objects clearly, and for common daily tasks such as reading and driving.
AMD affects the macula, the part of the eye that allows a person to see in fine detail. The macula is located in the center of the retina, the light-sensitive tissue at the back of the eye. The retina converts light (or an image) into electrical impulses, and then sends these impulses to the brain.
The company’s approach is to treat the eye with small doses of radiation. Radiation has been shown to shrink eye tumors, and affects the abnormal blood vessels of wet AMD by slowing the development of new vessels and reducing inflammation.
Feasibility studies of beta radiation for the treatment of wet AMD have shown great potential. The CABERNET clinical trial is now being conducted to study the safety and efficacy of beta radiation treatment in a larger population of patients with wet AMD. The company’s innovative core technology utilizes highly targeted strontium 90 beta radiation in a one-time surgical procedure.
Management has two trials underway and expects to receive its first pre-market approval (PMA) in the U.S. in 1Q:11. If successful, the company will have an exciting product to address a $3.3 billion market. Management mentioned that they are looking for one financial partner.