Advancing Next-Generation Wearable Patient Engagement and Diagnostic Technology Designed to Enable More Efficient Detection of Eye Diseases
Glaukos Corporation (NYSE: GKOS), an ophthalmic medical technology and pharmaceutical company focused on novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases, announced today that it has entered into a collaboration and marketing agreement with Radius XR, Inc., whereby Glaukos will become the exclusive sales agent to market, promote and solicit orders for the Radius XR™ wearable patient engagement and diagnostic system within the United States. Radius will continue to lead development and commercialization efforts for Radius XR.
The Radius XR platform is a novel portable vision diagnostic and patient engagement system designed to enable more efficient detection of eye disease and better management and treatment of sight-threatening conditions. It combines medical-grade diagnostics, business management tools and patient education resources within a wearable spatial computing device. This comprehensive hardware and software system provides the tools for medical professionals to diagnose patients accurately, enhance patient engagement and reduce staff workload. It enables patients to perform self-guided vision tests with minimal supervision, aiding in eye care practices' flow, efficiency and patient experience.
“Today marks a notable milestone for Radius and more importantly, for patients suffering from chronic eye diseases. Glaukos is highly trusted and respected by vision care providers, and this collaboration will provide us with the necessary resources to expedite product development, optimize benefits for eye care providers and enhance the overall quality of care and access for patients," said Ammad Khan, Radius chief executive officer. “Through this partnership, Radius will benefit from Glaukos' market-building expertise, leveraging its well-established sales team with extensive clinical knowledge and technical insight to commercialize and drive greater patient access for the Radius XR technology.”
"We are delighted to partner with Radius to strengthen commercialization efforts and expand patient access for Radius’ innovative portable vision diagnostic system," said Thomas Burns, Glaukos chairman and chief executive officer. "We believe the Radius XR platform is a novel technology that can help drive more efficient and improved diagnosis for patients suffering from chronic eye diseases, while also creating efficiency and growth opportunities for eye care practices. This collaboration aligns with our mission to meaningfully advance the standard of care and improve outcomes for patients suffering from chronic eye diseases."
About Radius XR
The Radius XR platform is a revolutionary portable vision diagnostic and patient engagement system. It combines medical-grade diagnostics, business management tools, and patient education resources within a wearable spatial computing device. The RadiusExam® and proprietary algorithms provide diagnostic testing results equivalent to current gold standards demonstrated through a clinical trial that shows statistical noninferiority of estimated sensitivities compared to SITA-Standard. This comprehensive hardware and software system empowers medical professionals to diagnose patients accurately, enhance patient engagement, and reduce staff workload. It enables patients to perform self-guided vision exams with minimal supervision, thereby aiding in the growth, flow and efficiency of eye care practices.
Glaukos (www.glaukos.com) is an ophthalmic medical technology and pharmaceutical company focused on developing and commercializing novel therapies for the treatment of glaucoma, corneal disorders and retinal diseases. Glaukos first developed Micro-Invasive Glaucoma Surgery (MIGS) as an alternative to the traditional glaucoma treatment paradigm, launching its first MIGS device commercially in 2012, and continues to develop a portfolio of technologically distinct and leverageable platforms to support ongoing pharmaceutical and medical device innovations. Products or product candidates for each of these platforms are designed to advance the standard of care through better treatment options across the areas of glaucoma, corneal disorders and retinal diseases.
All statements other than statements of historical facts included in this press release that address activities, events or developments that we expect, believe or anticipate will or may occur in the future are forward-looking statements. Although we believe that we have a reasonable basis for forward-looking statements contained herein, we caution you that they are based on current expectations about future events affecting us and are subject to risks, uncertainties and factors relating to our operations and business environment, all of which are difficult to predict and many of which are beyond our control, that may cause our actual results to differ materially from those expressed or implied by forward-looking statements in this press release. These potential risks and uncertainties include, without limitation, the timing and extent to which this investigational product obtains regulatory approval or clearance, our ability to successfully market such products, the ability to obtain and maintain adequate financial coverage and reimbursement for use of this product, and the continued efficacy and safety profile of this product as reported in clinical studies. These and other risks, uncertainties and factors related to Glaukos, and our business are described in detail under the caption “Risk Factors” and elsewhere in our Quarterly Report on Form 10-Q for the quarter ended March 31, 2023, which was filed with the Securities and Exchange Commission (SEC) on May 4, 2023. Our filings with the SEC are available in the Investor Section of our website at www.glaukos.com or at www.sec.gov. In addition, information about the risks and benefits of our products is available on our website at www.glaukos.com. All forward-looking statements included in this press release are expressly qualified in their entirety by the foregoing cautionary statements. You are cautioned not to place undue reliance on the forward-looking statements in this press release, which speak only as of the date hereof. We do not undertake any obligation to update, amend or clarify these forward-looking statements whether as a result of new information, future events or otherwise, except as may be required under applicable securities law.