Verséa Ophthalmics, LLC, and Celularity Inc. announced that the companies have entered into an exclusive U.S. commercialization agreement in which Verséa Ophthalmics will distribute Celularity’s BIOVANCE and BIOVANCE 3L Ocular products to support the treatment of ocular surface disease and ocular surgical applications.
BIOVANCE and BIOVANCE 3L Ocular, which are single-layer and three-layer (3L) allografts, respectively, are intended for use as a biological membrane covering that provides an extracellular matrix. BIOVANCE 3L Ocular is acellular and consists of three layers of an amniotic membrane that supports treatment of advanced ocular surface disease.
As a barrier membrane, BIOVANCE 3L Ocular is intended to protect the underlying tissue and preserve tissue plane boundaries. Applications include corneal and conjunctival-related injuries or defects such as corneal epithelial defects, pterygium repair, fornix reconstruction, and other procedures, all of which are significant opportunities, the companies believe.
The global persistent corneal epithelial defect management market is currently valued at
$8.5 billion, and is expected to grow at an 18 percent compound annual growth rate (CAGR) through 2033, reaching a valuation of $44.49 billion, according to Future Market Insights.
“We are excited to partner with Verséa Ophthalmics to distribute our BIOVANCE and BIOVANCE 3L Ocular products in the U.S.,” said Robert J. Hariri, MD, PhD, Celularity’s CEO, Chairman and Founder. “Verséa Ophthalmics has the channel expertise in eye care necessary to reach physicians and to provide patients in need access to our innovative biomaterial technology.”
“As a corneal specialist by training, I have witnessed the transformative impact innovative tissue-based ocular therapeutic interventions can have for patients both in the clinic and surgically,” said Rob Sambursky, MD, president, Verséa Ophthalmics. “Our commercialization agreement with Celularity allows us to offer a decellularized, ringless, advanced wound healing option to drive forward innovation for ocular surface diseases.”
Terms of the agreement are not disclosed.