MicroOptx has received regulatory approval to begin its first U.S. human eye test with its breakthrough Brown Glaucoma Implant, which has stopped vision loss in animals.
The Maple Grove company on Monday night was named the grand-prize winner of this year's Minnesota Cup awards after winning the life science/health IT division.
The prize culminates several months of competition among several hundred entrants in the growing statewide entrepreneurial contest. Second place went to Autonomous Tractor Corp., a company that wants to convert tractors to electric engines.
The awards are a keystone event of Twin Cities Startup Week, a 150-event celebration of fledgling businesses, innovators, makers, artists and hackers.
MicroOptx's implant is named after its inventor, Dr. J. David Brown, former chief of ophthalmology at the Minnesota Department of Veterans Affairs and an experienced glaucoma surgeon. The implant can halt the progression of glaucoma, a disease of the optic nerve and the world's leading cause of irreversible blindness. The implant worked on animals by reducing pressure on the optic nerve and redirecting fluid to the eye surface.
CEO Chris Pulling said in an interview before the company won the Cup that MicroOptx has raised about $7.5 million since its inception in 2015 and within several weeks will begin its human trials in the U.S. and Germany. He hopes the product will be commercially available by 2020 or 2021.
Pulling founded the company with Brown, Roy Martin and finance partner Keith Bares.
The company won $30,000 as the life science/health IT division winner in August. As the grand-prize winner, MicroOptx claimed an additional $50,000 in seed capital and a number of professional services and other benefits to help build its business.