Ellex Medical Lasers Ltd (AX:ELX) offers products across the glaucoma severity spectrum, with Tango positioned as a primary therapy for earlier stages and iTrack providing further intraocular pressure (IOP) reduction when needed. 2RT provides the potential to tap into the underserved early ARMD market.
Tango leading SLT share in non-invasive glaucoma
Elevated IOP damages the optic nerve in glaucoma patients. When topical therapy fails to control IOP, non-invasive procedures like SLT can be used. Sales of Ellex’s Tango family of yttrium aluminum garnet (YAG) SLT lasers grew 35% in H2 CY17. Ellex’s total glaucoma device revenue (including iTrack) rose by 37% to A$19.3m in H2 CY17 and is tracking for further growth, supported by favourable demographics and increasing adoption of non-pharmacological treatment methods.
iTrack showing robust growth in surgical glaucoma
When further IOP control is needed, MIGS procedures using devices such as Glaukos’s iStent or Ellex’s iTrack can be used. iTrack has US clearance for use in a procedure (Ab-Interno Canaloplasty) that catheterizes, dilates and flushes the eye’s Schlemm’s canal, to improve ocular drainage flow and reduce IOP. In a two-cohort study (n=48), iTrack reduced IOP by 30% at 12 months. Unlike iStent, iTrack does not need to be performed in conjunction with cataract surgery for reimbursement and does not involve the permanent implantation of a device. In H2 CY17, iTrack sales were up 65% in the US and 30% outside the US, to A$5.2m (globally).
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