The NRFC has made a $27 million investment in PolyActiva that will be used to complete its phase 2b clinical trial of its pioneering eye implant technology. The investment will also allow PolyActiva to consolidate its operations into a single facility in Melbourne encompassing R&D, analytical functions and manufacturing to support its programs and pipeline development.
The NRFC’s investment has the potential to improve the lives and vision of millions of people suffering from glaucoma in Australia and around the world by offering an alternative treatment regime while reducing the treatment burden on medical providers. The investment will allow PolyActiva to grow its highly skilled workforce, and exhibits the potential of Australian medical innovation, with the technology used by PolyActiva emerging from research conducted at the CSIRO, Bionics Institute and Centre for Eye Research Australia.
About PolyActiva
PolyActiva is a Melbourne-headquartered clinical-stage biotechnology company pioneering a novel drug delivery technology designed to improve treatment outcomes for patients with ocular conditions.
PolyActiva’s lead product candidate, PA5108, is a biodegradable, latanoprost-releasing ocular implant offering a sustained alternative to traditional eye drop therapy for patients with glaucoma. Glaucoma is a chronic, progressive eye disease that can lead to irreversible blindness by damaging the optic nerve due to increased eye pressure. PolyActiva’s solution replaces the need for current glaucoma treatments, which include daily self-administered eye drops. Research has found that less than 50% of patients consistently use daily eye drops over time, which can lead to increased risk of vision loss.
In addition to its treatment for glaucoma, PolyActiva has the potential to deliver a variety of other intra-ocular treatments, including the antibiotic levofloxacin. If successful, this treatment could reduce the risk of infection for patients that have recently undergone cataract surgery, eliminating the need for peri-operative treatment and post-operation drop therapy.
Investment impact
Improving health and economic outcomes
PolyActiva’s pioneering eye implant technology provides a new way to treat the debilitating eye disease, glaucoma. In addition to improving the vision and quality of life of patients by replacing the need for current treatments, PolyActiva’s technology reduces the treatment burden on medical providers by reducing the number of required consultations.
The NRFC’s investment in PolyActiva will enable the company to complete its phase 2b clinical trial of its pioneering eye implant technology. It will also allow PolyActiva to continue developing intra-ocular technology for other medical conditions, greatly improving eye health and vision for millions of people around the world.
Commercialising Australian innovation
PolyActiva’s technology emerged from research conducted at the CSIRO, Bionics Institute and Centre for Eye Research Australia. The NRFC’s investment is supporting PolyActiva to use this technology to improve the lives of millions of people, exhibiting the potential of Australian medical innovation.
Creating jobs
The NRFC’s investment will allow PolyActiva to grow its highly skilled workforce and consolidate its operations into a single facility encompassing R&D, analytical functions and manufacturing to support its programs and pipeline development.
Improves industrial capability
PolyActiva’s technology has the potential to provide significant clinical benefits for patients in Australia. The NRFC’s investment will support the development of local capability in the ophthalmic pharmaceutical value chain, which will have cascading benefits for Australia’s research, innovation and commercialisation ecosystem.
Attracting private finance
The NRFC’s cornerstone investment in PolyActiva anchors the company’s current funding round, helping to crowd-in the additional funding that it needs. By de-risking the investment and providing confidence to the market, the NRFC’s support helps catalyse further private sector participation, accelerating the company’s growth and innovation.