Newly renamed medical device manufacturer Nova Eye Medical has wasted no time expanding its product portfolio in the glaucoma field following the sale of its ophthalmic laser and ultrasound businesses.
Nova, known before the sale this week as Ellex Medical Lasers, has used some of the $97.4 million proceeds to purchase the Molteno3 glaucoma drainage device (pictured).
Nova announced it had paid NZ$985,000 to buy the device platform from Molteno Ophthalmic, a privately owned Dunedin manufacturer.
Nova chairman Victor Previn said Professor Anthony Molteno had created the world’s first glaucoma drainage device in the 1960s and since developed a world-class platform of glaucoma implant technologies.
“Molteno has the longest and most comprehensive history of any of the glaucoma drainage devices available in the market.”
The Molteno3 has been clinically validated reductions in intraoccular pressure in cases of severe glaucoma.
It complements Nova’s existing glaucoma products, including its iTrack MiGS portfolio of treatments for moderate severity glaucoma.
Nova has also acquired the lease on Molteno’s Dunedin factory.
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