Iridex (Mountainview, California) reported that the United States Patent and Trademark Office granted the company a patent for a new proprietary disposable device intended to replace certain suturing techniques in eye surgery. The iClip Closure Device will initially be focused on trabeculectomies and is intended to expand to a broader range of ophthalmic surgical procedures in the future.
A trabeculectomy is a common surgical procedure used in the treatment of glaucoma to drain fluid and relieve intraocular pressure. During the procedure, a surgeon removes a piece of tissue in the drainage angle of the eye allowing fluid to bypass the clogged drainage channels. It is estimated that approximately 400,000 trabeculectomies are performed each year worldwide.
"The iClip is a product that has a broad array of potential applications for eye surgery and is consistent with an integral part of our strategic plan: developing products that provide us new, recurring and therefore, predictable revenue streams," said Will Moore, Iridex president/CEO. "Furthermore, we believe ongoing investment in defensible intellectual property creates the opportunity for adding significant shareholder value."