Newly Public Glaukos Unveils Vision For The MIGS Market
This article was originally published in The Gray Sheet
Glaukos held its first earnings call Aug. 12 following the completion of its $113 million IPO, which closed in June. The firm is the first to the U.S. market with a micro-invasive glaucoma surgery, or MIGS, device and it is working to get its next-generation system that can be performed separate from cataract surgery to market in the coming years.
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The "leap frog guidance” outlines clinical and non-clinical testing recommendations for the nascent field of minimally invasive glaucoma surgical (MIGS) devices. It closely matches a February draft guidance.
At $1.8 billion, Q2 device financing nearly doubled the Q1 total, mainly from an increase in IPOs and early VC rounds, and acquisitions were slightly higher at $4.7 billion. Diagnostics funding also increased to $784 million from Q1's $597 million, and Danaher's monster $13.8 billion buy of life sciences company Pall headlined the second quarter's $15.6 billion total in diagnostics M&A activity.
In the ophthalmic device sector, intraocular lens surgery is expanding way beyond the cataract market with paradigm shifting technology. The vast presbyopia market now has an FDA-approved "corneal inlay" option, micro invasive glaucoma surgery has created an entirely new device segment, and corneal cross-linking has the potential to transcend its role as an effective treatment for a corneal disease to possibly being the next big thing in the non-surgical treatment of refractive errors.