Press Release
Ocular Therapeutix Secures Reimbursement Code for Insertion of Drug-eluting Intracanalicular Plugs
February 26, 2014
Ocular Therapeutix announces that the American Medical Association (AMA) CPT Editorial Panel recently approved a Category III CPT code 0356T for the insertion of a drug-eluting implant, including punctal dilation and implant removal when performed, into the lacrimal canaliculus. The new Category III CPT code, which is for emerging technologies, services, and procedures, is effective July 1, 2014. Ocular Therapeutix pursued approval of this code in conjunction with the American Academy of Ophthalmology and the American Optometric Association at the AMA CPT Panel meeting in October 2013.
Ocular Therapeutix is currently in clinical trials for dexamethasone intracanalicular plugs (OTX-DP) for the treatment of post-operative inflammation and pain and travoprost intracanalicular plugs (OTX-TP) for reduction of intraocular pressure in patients with glaucoma or ocular hypertension. The new code could be used in clinical trials to establish use, and will provide a mechanism for reimbursement for insertion of these intracanalicular plugs, following Food and Drug Administration (FDA) approval.
“Obtaining the CPT code for insertion of our drug-eluting plugs is an important step in the reimbursement process as we begin planning for the introduction of our sustained drug delivery platform technology” stated Amar Sawhney, PhD, President and CEO of Ocular Therapeutix, Inc.
About Ocular Therapeutix’s Intracanalicular Plugs:
Ocular Therapeutix is developing the company’s proprietary absorbable polyethylene glycol hydrogel intracanalicular plug technology to release drugs in a sustained fashion over a specified period of time depending on the drug and its corresponding therapeutic need. At the end of the treatment period, the plug is designed to absorb, and exit the nasolacrimal system without need for removal by the physician. The plugs contain a visualization agent for retention monitoring throughout the treatment period.
About Ocular Therapeutix, Inc.:
Ocular Therapeutix, Inc. is a privately held company based in Bedford, MA, focused on the development and commercialization of ophthalmic therapeutic products using its proprietary hydrogel technology. In addition to the ReSure Sealant, Ocular Therapeutix is developing drug-eluting intracanalicular plugs for treatment of post-operative pain and inflammation and glaucoma, and injectable anti-VEGF drug depots for back-of-the-eye diseases.
Forward-Looking Statements:
Any statements in this news release about future expectations, plans and prospects for Ocular Therapeutix constitute forward-looking statements. Actual results may differ materially from those indicated by such forward-looking statements. Ocular Therapeutix anticipates that subsequent events and developments may cause its views to change. However, while Ocular Therapeutix may elect to update these forward-looking statements in the future, it specifically disclaims any obligation to do so.
Contact Information:
Scott Corning
Vice President of Sales and Marketing
Phone: 781-357-4000
Email: scorning@ocutx.com
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