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Jan 19, 2023, 09:00 ET
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Seasoned industry executives add expertise ahead of anticipated continued corporate growth
BOSTON, Jan. 19, 2023 /PRNewswire/ — Ace Vision Group, Inc, (AVG) an emerging ophthalmic device company focused on bringing innovative touchless lasers to patients suffering from age-related vision loss and eye diseases impacted by ocular rigidity, announced multiple executive appointments today. John Frantzis will serve as Chief Business Development Officer and Alex Lopez will serve as Chief Commercial Officer effective January 19, 2023.
“Our team is ecstatic to have such notable and experienced strategic leaders in the ophthalmic industry joining Ace Vision Group at this stage of the company’s journey,” said AnnMarie Hipsley, DPT, Ph.D., Founder and CEO of AVG. “I have great respect for the accomplishments of both Mr. John Frantzis and Mr. Alex Lopez in each of their longstanding careers in healthcare. I am eager to see their impact on AVG’s commercial strategy and success. Building an impeccable executive leadership of C-level talent will contribute immeasurably to AVG’s continual growth toward commercialization of our flagship technology, the VisioLite® Ophthalmic Laser System and the Laser Scleral Microporation (LSM) procedure. LSM will be the first medical device for the therapeutic treatment of the progressive loss of Dynamic Range of Focus (DRoF) which occurs with age and manifests as presbyopia.
As Chief Business Development Officer, Frantzis will lead AVG ‘s strategic venture capital funding efforts, global business development, distribution, and sales. Frantzis has more than 25 years of executive management experience in emerging technologies with expertise in producing high growth and results driven products in the biotech and pharma spaces. Frantzis was a key member of management that pioneered laser vision correction surgery leading Summit Technology, Inc. into commercialization, which was later acquired for nearly $1 billion by Alcon. Frantzis also formerly served on the executive management team at Avedro, which was acquired by Glaukos in 2020 for $380 million. Most recently, Frantzis worked with Heru (Bascom Palmer innovation), where he secured $30 million in a Series A financing round led by D1 Capital.
“The VisioLite Ophthalmic Laser System is the most innovative technology I have seen in the last 20 years. LSM therapy has the potential to have a significant impact on the presbyopia market, which is the largest market opportunity in ophthalmology with limited available treatment options,” said AVG Chief Business Development Officer, Frantzis. “I am honored to be part of the AVG team and play a role in introducing a revolutionary therapy such as LSM into the ophthalmic market.”
Lopez brings more than two decades of experience in the eye care industry to AVG. In his new role as Chief Commercial Officer, Lopez will be responsible for the commercial launch of AVG’s technology platform, the VisioLite Laser and the LSM therapeutic procedure. Previously, Lopez served as Chief Commercial Officer for Legrande Health, an innovative online healthcare commerce platform. Lopez was also former acting President of The Aliso Group, a healthcare and consumer consulting firm, and has successfully commercialized several products from inception to market. Lopez brings extensive marketing, sales and branding expertise in the elective procedure market gained during his successful 22-year career. Lopez’s unique hybrid experience in both ophthalmic therapeutics at Allergan and aesthetics at Healthegy AIS gives him the perfect unique combination of expertise to launch AVG’s therapeutic platform. Lopez was key in determining AVG’s strategic reccurring revenue models for LSM, which like cosmetic injectables, is a solution to rejuvenate the effects of a progressive aging disease.
“I am excited to be working with such an inventive group and bringing innovative technology to market that has the potential to change the presbyopia standard of care. This is a great opportunity to create a new recurring revenue category for ophthalmologists, while providing patients with a higher level of care with the first in-office therapeutic treatment for the presbyopic patient,” said Lopez, newly appointed Chief Commercial Officer of AVG. “My longstanding experience in ophthalmology combined with my experience in aesthetics is perfectly suited to support the corporate and commercial vision of AVG.”
About Laser Scleral Microporation (LSM)
Advanced Glycation End Products (AGEs) contribute to age-related connective tissue damage, functional deficits, crosslinking of collagens and the progressive stiffening of connective tissues in the body. Ocular rigidity caused by progressive crosslinking and scleral stiffness has been linked to the etiology of the progressive loss of Dynamic Range of Focus (DRoF), characteristically known as ‘presbyopia’. LSM is a new minimally invasive laser therapy aimed at rejuvenating the age-related ocular rigidity caused by AGEs. It works by uncrosslinking scleral bonds and decreasing ocular stiffness to restore DRoF. This allows the natural dynamic movements of the ciliary muscles that shape the crystalline lens in the eye to move again. LSM is a dosable, re-treatable solution for the ever-progressive problem of crosslinking and age-related vision loss which can be utilized throughout the lifecycle of a pre-cataract presbyope. LSM therapy is performed with the VisioLite® touchless laser technology and is the first biomechanical solution to address the underlying biomechanical problems lurking behind the progressive loss of DRoF. Early studies have demonstrated that there may be potential ocular health benefits in restoring the DRoF function in the eye.
About Gen II VisioLite® Ophthalmic Laser System
The VisioLite® Ophthalmic Laser System is a first in class 2.94um Er:Yag laser that contains a patented robotic motion controller and eye tracker which allows the device to reach 360-degrees of the extreme areas around the eye. The in-line OCT has the capability to perform real-time adaptive depth control for the utmost safety. VisioLite is designed with a robust software module to allow the Microporation pattern to be customized and repeated. The procedure is performed in-office and takes less than 10 minutes. LSM is a touchless, painless therapy that rejuvenates the sclera without touching any optical elements of the eye. The procedure results are noticeable on the same or next day. AVG is currently preparing for the commercialization of its Gen II VisioLite® Ophthalmic Laser System in 2023.
About Ace Vision Group
Established in 2006, Ace Vision Group, Inc. (AVG) is a privately held U.S. ophthalmic medical device company developing Laser Microporation Therapeutic technologies to address age-related eye dysfunction and restore the eye’s natural biomechanical performance. AVG’s Laser Scleral Microporation (LSM) is the only therapeutic eye laser treatment that restores visual function naturally without involving vision correction, artificial implants, or devices. AVG’s brand promise is to provide the field of ophthalmology with innovative devices, Microporation Therapeutic procedures, and education for the treatment and delay of onset of age-related ocular dysfunction, disability, and disease. For more information about Ace Vision Group please visit www.acevisiongroup.com.
SOURCE Ace Vision
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