The FDA Phase I/II clinical trial enrollment is now closed. The company anticipates
trial results in 2Q/2007. According to a recent study by a major consulting firm
there are 87 MM people in the US suffering from early cataracts as compared to
1.25 MM people getting cataract surgeries every year. Of this population, 38 MM
have been diagnosed (having visited either an Ophthalmologist or Optometrist due
to declining vision). Of these, 29 MM have been diagnosed with pure nuclear cataracts
that are the subject of our study. Based on a conservative 15% market penetration
of the 29 MM US patient population, the consulting firm estimated that the Chakshu
drug could generate more than $1 billion annually in the US domestic market, and
the revenue would approximately double for worldwide forecasts.
Chakshu Research is evaluating options to fund post Phase II development.
Assuming a successful Phase II result, our options include an IPO, private equity,
a strategic large pharmaceutical partnership or a combination. We are initiating
discussions with large pharmaceutical and investment banks to evaluate interest.