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Author
Gómez Sánchez, Javier
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Abstract
Nowadays eye diseases are very common health problems. Some of them have low severity and do not hamper usual lifestyles. However, there are other much more severe which can end up causing blindness, a life disabling condition. Retinal detachment (RD) is included in the latter group, and if it is not treated promptly, the patient may end up with a total loss of the vision. It is an age-related disease which happens when the retina is separated from the underneath layer as a result of the formation of a hole or tear on the retina, or others eye related diseases. Although it is predominant of elderly groups (>50 years), it can appear at any age.
Worldwide it has an incidence that varies between countries from 6.9 to 18.2 per 100,000 inhabitants. For instance, in Europe there is an average incidence of 13.3 which has been growing in the past decades because of the population aging and the increasing accessibility to the health system.
Although current treatments offer good results, they have associated comorbidities which increase the cost of treatment and the postoperative times for the patients who in most cases they must hold a facedown position during long periods of times that can last for two weeks or more.
As a new solution to those disadvantages we propose Retipatch® which is a medical device based on a thermosensitive hydrogel. It will act as an adhesive patch covering the retinal hole or tear causing the RD. Retipatch® is developed to minimized postoperative cost and enhance the patient’s wellbeing by eliminating the facedown position or the need for a second surgery. In addition, its ap-plication by surgeons is not different from the current products used, so surgeons do not need to learn a totally new technology which will facilitate the implantation in hospitals and therefore its acceptance between surgeons.
Retipatch® is going to be patented by IQS and IGTP and it the patent licence will be grant to a multinational ophthalmic or MedTech company who will commercialize it. The project is currently under development and it is needed a 31.5M € investment to cover the rest of developing phases prior commercialization, from which 30M € are dedicated to the clinical trials.
The profitability of this project, as shown in the financial plan, it is divided between the start-up form by IQS and IGTP, and the potential multinational company which is the licensee. At date of January 2022 and assuming a WACC of 10%, the net present value (NPV) for the start-up is 470,893 €. For the multinational company its net present value is of 2,383,745 €.
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