Sight Sciences Announces European Launch of the Ergo-Series of the OMNI® Surgical System at the ESCRS Winter Meeting
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Insights
The introduction of the Ergo-Series OMNI® Surgical System by Sight Sciences represents a significant advancement in the field of ophthalmic surgery, particularly for the treatment of open-angle glaucoma. The system's implant-free, minimally invasive approach aligns with the current medical trend towards reducing patient recovery time and surgical risks. The specific enhancements in ergonomics and the optimized cannula tip are designed to improve surgeon precision and patient outcomes. From an industry perspective, these improvements could potentially lead to increased adoption rates among surgeons and healthcare facilities, thus expanding the market share for Sight Sciences in the European region.
Furthermore, the CE Mark under the new EU Medical Device Regulation signifies a rigorous assessment of the device's safety and efficacy, which could bolster confidence among stakeholders. The positive feedback from U.S. surgeons and the anticipated reception at the European Society of Cataract and Refractive Surgeons meeting could translate into strong market performance, provided that the adoption in Europe mirrors that of the United States.
The strategic timing of the launch at the ESCRS Winter meeting maximizes exposure to key industry players, potentially facilitating rapid market penetration. Glaucoma affects a significant portion of the adult population in Europe and the need for advanced surgical options is ever-present. The market for glaucoma surgery devices is competitive and innovations that offer tangible benefits in terms of usability and clinical outcomes can secure a leading position. The OMNI Ergo-Series may also impact the competitive landscape by setting a new standard for what surgeons expect from surgical tools in terms of ergonomics and ease of use.
Analyzing the potential business impact, the adoption of the Ergo-Series in Europe could lead to an increase in revenue streams for Sight Sciences. However, the company must navigate varying healthcare systems and reimbursement policies across European countries, which can affect the speed and extent of market adoption. Moreover, the long-term success of the Ergo-Series will depend on continued positive clinical results and the ability to maintain a competitive edge in a rapidly evolving market.
The launch of a new medical device like the OMNI Ergo-Series often leads to a period of market observation, where investors assess the product's uptake and financial impact on the company's performance. Sight Sciences' expansion into the European market represents an opportunity for revenue growth, which could be reflected in future financial statements. Investors will likely monitor the sales trajectory following the launch to gauge the product's success and its contribution to the company's overall valuation.
It's important to note that while the initial market response may be positive, the true financial impact will be measured over subsequent quarters. Factors such as manufacturing scalability, supply chain efficiency and post-market surveillance data will play crucial roles in determining the product's profitability and sustainability. The company's ability to effectively market and distribute the Ergo-Series across diverse European markets will be critical to achieving a favorable return on investment.
MENLO PARK, Calif., Feb. 14, 2024 (GLOBE NEWSWIRE) -- Sight Sciences, Inc. (Nasdaq: SGHT) ("Sight Sciences" or the "Company"), an eyecare technology company focused on developing and commercializing innovative, interventional technologies intended to transform care and improve patients' lives, today announced the launch of the Ergo-Series of the OMNI® Surgical System in Europe, a technology that facilitates surgeons’ ability to perform minimally invasive, implant-free glaucoma procedures in adults with open-angle glaucoma.
The Ergo-Series was originally launched in the United States in March 2023, and since has been broadly adopted by surgeon users of OMNI due to its improved ergonomics and an optimized cannula tip that provides gentle and precise access to Schlemm’s canal. "We are pleased with all the positive feedback on the OMNI Ergo-Series from surgeons in the United States, and we are delighted to have now received CE Mark under the new EU Medical Device Regulation to market this enhanced version of our OMNI technology in Europe as well," said Paul Badawi, Co-Founder and Chief Executive Officer of Sight Sciences. "We believe the improved handle ergonomics, simplified viscoelastic preparation, and new cannula tip design will be invaluable to our European partners, so we are excited to launch the technology at the European Society of Cataract and Refractive Surgeons (“ESCRS”) Winter meeting this week in Frankfurt."
Professor Fritz Hengerer, Chief Medical Officer and Director Bürgerhospital Eye Clinic in Frankfurt, said, “I am particularly impressed with the improved ergonomics and overall design enhancements of the OMNI Ergo-Series. These upgrades make the OMNI Surgical System even more user-friendly which could encourage surgeons to intervene earlier, when appropriate, to help delay disease progression, thus helping to preserve vision and potentially reduce the medication burden of patients with glaucoma.”
“The previous iteration of the OMNI Surgical System was seamlessly incorporated into my practice,” commented Dr. Andrew Tatham, Consultant Ophthalmic Surgeon at Princess Alexandra Eye Pavilion in Edinburgh and NHS Research Scotland Clinical Lead for Ophthalmology. “The innovations in design of the Ergo-Series have the benefit of making the device even more intuitive to hold and operate. The enhanced cannula tip can provide gentle, precise access to Schlemm’s canal and improved tactile feedback, giving the surgeon confidence at every step of the procedure. I believe these improvements make OMNI even more accessible for surgeons treating all stages of open-angle glaucoma.”
About Sight Sciences
Sight Sciences is an eyecare technology company focused on developing and commercializing innovative and interventional technologies intended to transform care and improve patients' lives. Using minimally invasive or non-invasive approaches to target the underlying causes of the world's most prevalent eye diseases, Sight Sciences seeks to create more effective treatment paradigms that enhance patient care and supplant conventional outdated approaches. The Company's OMNI® Surgical System is an implant-free glaucoma surgery technology (i) indicated in the United States to reduce intraocular pressure in adult patients with primary open-angle glaucoma; and (ii) CE Marked for the catheterization and transluminal viscodilation of Schlemm’s canal and the cutting of trabecular meshwork to reduce intraocular pressure in adult patients with open-angle glaucoma. Glaucoma is the world's leading cause of irreversible blindness. The Company's TearCare® System technology is 510(k) cleared in the United States for the application of localized heat therapy in adult patients with evaporative dry eye disease due to meibomian gland dysfunction (“MGD”) when used in conjunction with manual expression of the meibomian glands, enabling clearance of gland obstructions by physicians to address the leading cause of dry eye disease. The Company's SION® Surgical Instrument is a manually operated device available in the United States to be used in ophthalmic surgical procedures to excise trabecular meshwork.
For more information, visit http://www.sightsciences.com.
Sight Sciences and TearCare are trademarks of Sight Sciences registered in the United States. OMNI, OMNI ERGO, and SION are trademarks of Sight Sciences registered in the United States, European Union and other territories.
© 2024 Sight Sciences. All rights reserved.
Forward-Looking Statements
This press release, together with other statements and information publicly disseminated by the Company, contains certain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. The Company intends such forward-looking statements to be covered by the safe harbor provisions for forward-looking statements contained in the Private Securities Litigation Reform Act of 1995 and includes this statement for purposes of complying with such safe harbor provisions. Any statements made in this press release or during the earnings call that are not statements of historical fact, including statements about our beliefs and expectations, are forward-looking statements and should be evaluated as such. Forward-looking statements include, but are not limited to, statements concerning the potential clinical and design benefits of the Ergo Series of the OMNI Surgical System and their potential impact on clinical decision-making; and anticipated launch dates for the Ergo-Series. These statements often include words such as "anticipate," "expect," “suggests,” “plan,” “believe,” “intend,” “estimates,” “targets,” “projects,” “should,” “could,” “would,” “may,” “will,” “forecast” and other similar expressions. We base these forward-looking statements on our current expectations, plans and assumptions we have made in light of our experience in the industry, as well as our perceptions of historical trends, current conditions, expected future developments and other factors we believe are appropriate under the circumstances at such time. Although we believe these forward-looking statements are based on reasonable assumptions at the time they are made, you should be aware that many factors could affect our business, results of operations and financial condition and could cause actual results to differ materially from those expressed in the forward-looking statements. These statements are not guarantees of future performance or results. These forward-looking statements are subject to and involve numerous risks, uncertainties and assumptions, including those discussed under the caption “Risk Factors” in our filings with the U.S. Securities and Exchange Commission, as may be updated from time to time in subsequent filings, and you should not place undue reliance on these statements. These cautionary statements are made only as of the date of this press release. We undertake no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.
Media contact:
pr@SightSciences.com
Investor contact:
Philip Taylor
Gilmartin Group
415.937.5406
Investor.Relations@SightSciences.com
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