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CIT GAP Funds Invests in EVS Glaucoma Therapeutics

Friday, September 27, 2013  
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The Center for Innovative Technology (CIT) announced recently that its CIT GAP Funds has closed an investment with EVS Glaucoma Therapeutics (EGT), a Herndon-based spinout of Euclid Vision Systems that will develop a sustained delivery system for glaucoma medication.


CIT President and CEO Pete Jobse said, "EGT is addressing an important need in the glaucoma treatment market. Our investment reflects our confidence in their plans to develop a sustained delivery system.”


EGT will develop an implantable, bio-degradable, collagen-based drug delivery system for Latanoprost, the leading prescribed glaucoma medication. Latanoprost currently has a recommended daily dosing schedule. However, multiple studies indicate that glaucoma treatment failures result from improper dosing by 90 percent of patients taking Latanoprost. To overcome this treatment failure, EGT has licensed for development a sustained-released, bio-degradable delivery system. The glaucoma treatment market is estimated to be $6 billion worldwide.


Michael Ross, EGT CEO, said "This investment from CIT GAP Funds will allow us to pursue further development of our delivery system, which will help address inconsistent compliance in dosing experienced by the majority of glaucoma patients.”

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