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Small-firm development may provide the future for retina practice
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NEWPORT BEACH, Calif. — Leading investors and drug and device product developers in the area of retinal medicine are optimistic about several future therapeutic options as the subspecialty has seen a recent influx of attention and investment.
Key stakeholders from the areas of academia, biotech, venture capital and industry met here at the annual Retinal Innovation Symposium, sponsored by the Foundation Fighting Blindness, to share early, mid-stage and late developments in both drug and device products that could one day transform retinal practice.
According to William Link, PhD, a managing director of Versant Ventures and co-chair of the event, retinal medicine has seen an explosion of interest from the venture capital arena since 1999, when there was only investment, to today, with more than 30 biotechs, startups and small academic-based research projects focused on retinal research receiving funding through venture capital firms.
In a round table held during the event, top executives from major pharmaceutical companies acknowledged that drug and device development in retina is a changing paradigm, with pharmaceutical companies generally preferring investments in partnerships with or acquisitions of extramural firms with established products that may require little to no additional capital outlay before final commercialization.
The symposium was followed by a Dining in the Dark experience, where diners were invited to eat with the lights turned off in an effort to raise awareness for blindness-related causes.
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