Encore Vision Inc.

About Encore Vision Inc.

Encore Vision Inc. operated as a privately-held ophthalmic pharmaceutical company with a singular focus on developing a novel, disease-modifying topical treatment for presbyopia, an age-related condition that causes the gradual loss of the eye's ability to focus on nearby objects. The company was an affiliate of Encore Health LLC, which was established in 2000 by ophthalmologist Dr. Jon Till and optometrist Dr. Ronald Blum. The pivotal leadership, however, came from Bill Burns, a former Alcon executive with 20 years of experience in the ophthalmology sector, who took the helm as President and CEO and founded Encore Vision in 2006, steering it through its crucial development phases. His extensive background in worldwide marketing and business development for major pharmaceutical companies was instrumental in shaping the company's strategy.

The core of Encore Vision's business was the development of its lead investigational product, EV06, an ophthalmic solution. This eye drop was designed to address the root cause of presbyopia—the progressive stiffening of the eye's crystalline lens. The product, a proprietary lipoic acid choline ester compound, functioned as a prodrug that, once penetrating the cornea, was intended to break down disulfide bonds within the lens, thereby restoring its flexibility and natural ability to accommodate for near vision. This approach represented a significant departure from existing corrective measures like reading glasses or contact lenses, which only manage the symptoms. The target market was substantial, encompassing over 80% of adults over the age of 45 who develop presbyopia.

The company's primary business model was centered on research and development, funded by private investors, venture capital firms like Bios Partners, and angel investor networks such as the Cowtown Angels. The ultimate goal was to bring a first-in-class therapeutic product through clinical trials and to the market. A significant milestone was achieved when the FDA approved its Investigational New Drug (IND) application, allowing clinical trials to proceed. Phase I/II trials showed promising results, with a statistically significant number of participants treated with EV06 demonstrating improved near vision compared to a placebo. This success culminated in a major achievement for the company: its acquisition by Novartis in a deal announced in December 2016 and valued at up to $465 million, including an upfront payment of $375 million and potential future milestone payments. The acquisition was intended to bolster Novartis's ophthalmology pipeline. However, in October 2022, Novartis announced the discontinuation of the development program for the drug, then named UNR844, after it failed to meet its primary endpoint in a phase 2b study.