LinCor Biosciences Announces Funding for Development of Its Bioengineered Cornea

SINGAPORE

LinCor Biosciences, Pte. Ltd. (Singapore) a developer and manufacturer of bioengineered corneas is pleased to announce a major investment of $500,000 by the Indiana Lions Eye Bank, Indianapolis, IN, USA. The company’s cornea has shown complete biocompatibility in extensive clinical studies in animals and in a long term human clinical trial.

Dr. James Socks, CEO of LinCor Biosciences, stated, “The investment by the Indiana Lions Eye Bank will accelerate the company’s final pre-market activities. The bioengineered cornea will help reduce the tremendous shortage of donor corneas in most countries around the world.” The World Health Organization estimates 10 million people are blind in one or both eyes due to corneal disease or injury who could potentially benefit from a corneal transplant. Dr. Socks projects the company’s cornea will be available commercially late in the third quarter of 2015. The price is anticipated to be less than 1/3 that of a human donor cornea from a US eye bank or less than $1,000 per bioengineered cornea. Additionally as manufacturing efficiencies improve, the cost of goods will decrease allowing the company to continually lower its selling price enabling more people in need to have their sight restored. “We want to reach far down the economic ladder of those in need for corneal transplants,” said Dr. Socks.

Mr. Timothy Fischer, CEO of Indiana Lions Eye Bank said that by responsible social investing in LinCor Biosciences, his organization will be able to further its mandate and that of the Lions International sight restoration programs. Mr. Fischer has joined the Board of Directors of LinCor Biosciences.

LinCor Biosciences has teamed with the not-for-profit Corneal Transplant Foundation said Mr. Jake Requard, Executive Director of the Foundation and Vice President of LinCor Biosciences. The mission of the foundation is three fold: to provide a global multi-language website for patient education, to support corneal transplant research, and as funds are raised the Foundation will also provide support for financially needy patients to obtain corneal transplants.

About LinCor Biosciences

www.corneabio.com

LinCor Biosciences bioengineered cornea is the product of over ten years of research and development at two major universities. LinCor’s bioengineered cornea is made from human recombinant collagen whose microstructure is similar to the human corneal stroma. It is a biologic material that is fully integrates into the host cornea as compared with artificial keratoprostheses. The LinCor Biosciences bioengineered cornea is indicated for superficial and deep anterior lamellar keratoplasty.

About the Indiana Lions Eye Bank

www.indianalionseyebank.org

The Indiana Lions Eye Bank provides eye tissue for corneal transplants and for research and training purposes to help reduce corneal blindness. The Indiana Eye Bank also supports vision programs in the State of Indiana including Operation KidSight, a statewide vision screening project of the Lions Clubs throughout Indiana.

About The Corneal Transplant Foundation

www.corneal-transplant-foundation.org

In addition to its stated mission, the Corneal Transplant Foundation’s goal is to develop the most comprehensive online source of information about corneal transplantation.