⏰ TL;DR (Too Long; Didn't Read)

💡The Idea

• A chopper in cataract surgery is a handheld instrument used to mechanically fragment the lens during the procedure. Conventionally made of metal (e.g., titanium), it is held in the surgeon's left hand while the main device is in the right hand.
• Conventional cataract surgery uses microscope illumination in combination with the chopper, which can cause:
• Poor visualization due to corneal reflex
• Patient discomfort from strong light
• Risk of retinal photic injury
• OCULight developed the Smart Beam Cataract surgery device which combines two main components:
• iChopper: A disposable illuminated chopper for cataract surgery
• iVision: A iChopper compatible light source

🥇Benefits

• Enhanced visualization for surgeons
• Reduced light exposure to patient's retina (90% reduction)
• Minimized patient discomfort from glare
• Decreased risk of retinal photic injury
• Potential to reduce complications, especially in challenging cases
• Eliminates need for additional devices in most cases

💵Business Model

• Sale of disposable iChopper devices: Estimated price $100 per unit
• Compatible iVision light source (one-time purchase for hospitals)
• Target market: Hospitals and eye surgery centers worldwide
• Seeking reimbursement approvals in various countries

🌎Market data

• Cataract surgery is the most common surgery globally (over 30M cases/year)
• U.S. market: 3.8M cases/year
• Korean market: 0.7M cases/year

🚀Status

• Clinical use initiated in Korea
• 5 registered patents in Korea
• 2 registered patents in the U.S.

📋Regulation

• FDA clearance obtained in 2021 as a Class II medical device
• KFDA clearance obtained in 2023
• EU MDR submission in process, expected approval by end of 2024
• Prospective post-market study ongoing in the U.S. (Tyson Eye Center, FL)
• Seeking reimbursement approval in Korea (decision expected in 3-6 months)

📣Promotional materials