Friday, July 28, 2023
Celularity Inc. (Nasdaq: CELU) and Verséa Ophthalmics, LLC have entered into an exclusive U.S. commercialization agreement, according to their joint announcement. Verséa Ophthalmics, a company based in Tampa, FL, specializes in delivering complete ocular point-of-care diagnostic and therapeutic interventions. Under this agreement, Verséa Ophthalmics will be the sole distributor of Celularity's BIOVANCE® and BIOVANCE® 3L Ocular products in the United States. These products are aimed at supporting the treatment of ocular surface disease and various ocular surgical applications.
BIOVANCE® and BIOVANCE® 3L Ocular are allografts derived from the placenta. The former is a single-layer product, while the latter, BIOVANCE® 3L Ocular, is acellular and consists of three layers of an amniotic membrane. It is particularly intended for treating advanced ocular surface disease. Acting as a biological membrane covering, BIOVANCE® 3L Ocular offers an extracellular matrix that serves as a barrier membrane, preserving tissue plane boundaries and protecting underlying tissue. These products have significant applications, including addressing corneal and conjunctival-related injuries or defects, such as corneal epithelial defects, pterygium repair, fornix reconstruction, and other related procedures.
The companies anticipate substantial opportunities in the market, as the global persistent corneal epithelial defect management market is currently valued at $8.5 billion and is projected to experience an 18 percent compound annual growth rate (CAGR) until 2033, reaching an estimated value of $44.49 billion, according to Future Market Insights.
Celularity's CEO, Chairman, and Founder, Robert J. Hariri, M.D., Ph.D., expressed enthusiasm about partnering with Verséa Ophthalmics, emphasizing the latter's expertise in the eye care field. He believes that this partnership will enable more physicians and patients to access Celularity's innovative biomaterial technology for ocular health.
Rob Sambursky, M.D., President of Verséa Ophthalmics and a specialist in corneal issues, expressed his belief in the transformative impact of tissue-based ocular therapeutic interventions. He highlighted that the commercialization agreement with Celularity will enable them to offer an advanced wound healing option for various ocular surface diseases.
