Despite significant advances made over the past decade in the treatment of retinal diseases and conditions, there remains a dramatic unmet need for treatments that can prevent apoptosis of key retinal cells, including photoreceptors. We believe that developing novel treatments in this area is positioned as the next frontier in retinal drug development.

Diseases and conditions such as retinal detachment and both wet and dry forms of AMD still leave patients facing the frightening prospect of vision loss due to the lack of therapies capable of preventing the death of key retinal cells, including photoreceptors. As such, there is a significant market for a treatment capable of preserving vision by preventing the apoptosis of these retinal cells that is associated with these diseases.

Retinal detachment represents an orphan drug indication for which there is no drug treatment to compliment the surgical process of retinal reattachment. ONL believes that retinal detachment represents a >$500M global market opportunity.

In addition to retinal detachment, ONL believes that ONL1204 may be able to safely and effectively prevent the death of key retinal cells, including photoreceptors, in other retinal disease and conditions such as dry AMD, wet AMD, diabetic retinopathy, among others. Combined, the estimated market for the initial indications that ONL plans to target is >$12 billion globally.

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