Nova Eye Medical

What Nova Eye Medical does

Nova Eye Medical is a public Australian medical device company listed on the ASX under ticker EYE that designs, manufactures, and sells surgical devices for the treatment of glaucoma. The company's product portfolio spans the full glaucoma patient journey, from minimally invasive glaucoma surgery (MIGS) options including canaloplasty (the iTrack Advance and iTrack microcatheters) to drainage device implantation for severe and complex cases (the Molteno3 device). The company markets and sells its devices to glaucoma surgeons and ophthalmologists practicing at hospitals, eye clinics, and ambulatory surgical centers across the United States, Europe, China, Canada, and Australia.

The company's flagship platform is built around its illuminated microcatheter technology for canaloplasty procedures. The iTrack Advance device incorporates proprietary Shear Clear Technology, which uses a woven nitinol guidewire architecture to generate controlled turbulence during viscoelastic delivery, achieving a 190-fold reduction in viscosity via shear thinning in bench testing. Complementing the microcatheter is the ViscoInjector accessory and the iLumin fiber-optic illuminator, forming an integrated surgical system. The original iTrack microcatheter has been used in more than 150,000 procedures globally since 2008, providing an extensive real-world evidence base. The portfolio is anchored by Molteno3, a drainage device for severe glaucoma with a slim 4mm polypropylene plate designed to sit close to the sclera.

Nova Eye Medical generates revenue through hardware sales of its medical devices to healthcare providers, with pricing conducted on a quote-based, region-specific basis. The company sells primarily through direct field sales to enterprise buyers (hospitals, eye clinics, surgical centers), supported by clinical education programs including surgeon training labs, webinars, industry conference presence at ASCRS, ESCRS, DOG, and the World Glaucoma Congress, and a network of over 20 key opinion leader surgeon partners. The company has recorded six consecutive halves of revenue growth, reaching record half-year sales of AUD 16.7 million in H1 FY2026 (31% constant currency growth) and last-twelve-months global sales of AUD 32 million (USD 21 million). Regulatory milestones underpinning the business include FDA 510(k) #K221872 for the United States, CE Mark 2862 for Europe, EU MDR certification received March 2026, and Chinese market approval for iTrack Advance in September 2025.

Name

Nova Eye Medical

Legal name

Nova Eye, Inc.

Website

https://nova-eye.com

Company type

Public

Founded year

1985

Operating status

Operating

Headcount range

51–100 employees

Short description

Nova Eye Medical is a public Australian medical device company (ASX: EYE) that designs and sells surgical devices for glaucoma treatment. Its portfolio includes the iTrack Advance illuminated microcatheter for canaloplasty and the Molteno3 drainage device, sold to ophthalmologists and hospitals across the US, Europe, China, Canada, and Australia.

Ownership category

akta.pro rank

Product category

Ophthalmic Medical Devices

NAICS

Surgical and Medical Instrument Manufacturing (339112)

SIC

Surgical & Medical Instruments & Apparatus (3841)

akta.pro primary industry

Glaucoma Diagnostics & Surgical Devices (Tonometry, Gonioscopy, MIGS, Drainage Implants, Laser Trabeculoplasty) (HLAHAJAI)

Keywords

• Glaucoma treatment devices
• Minimally invasive glaucoma surgery
• Ophthalmic medical devices
• Canaloplasty microcatheters
• Glaucoma drainage devices

Headquarters

HQ city

Lakes Creek

HQ country

Australia

HQ region

Oceania

Offices2 records

Markets served

GTM type

B2B

Offering type

Hardware or Manufacturing

Cost components

Technology or R&D, Operations, Supply Chain, Marketing or Sales, Personnel, Infrastructure

Revenue model

1. Medical Device Sales: Nova Eye Medical generates revenue through the sale of its glaucoma treatment devices including iTrack Advance, iTrack microcatheters, Molteno3 drainage devices, and related surgical equipment and accessories.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels9 records

Core offering

Nova Eye Medical develops and sells ophthalmic medical devices for the surgical treatment of glaucoma. Its portfolio includes illuminated microcatheters (iTrack Advance and iTrack) used in canaloplasty and minimally invasive glaucoma surgery (MIGS), as well as the Molteno3 glaucoma drainage device for severe and complex cases. The company also offers supporting accessories such as the ViscoInjector and iLumin fiber-optic illuminator, along with proprietary Shear Clear Technology for enhanced viscoelastic delivery.

Product overview

Nova Eye Medical offers a portfolio of glaucoma treatment devices centered on canaloplasty and MIGS (Minimally Invasive Glaucoma Surgery). The core product line consists of iTrack™ Advance (flagship illuminated microcatheter with Shear Clear Technology), iTrack™ (original microcatheter with proven track record since 2008), and Molteno3® (glaucoma drainage device for severe cases). The company supports its devices with proprietary technology (Shear Clear Technology for enhanced viscoelastic delivery), accessories (ViscoInjector, iLumin fiber-optic illuminator), and educational resources (webinars, training videos). The product architecture supports the full glaucoma patient journey from interventional angle-based MIGS options to drainage devices for complex cases.

Differentiator

Problem solved

Functional benefit

Brands

• iTrack Advance: Flagship illuminated microcatheter with easy-to-use ergonomic handpiece for angle-based MIGS procedures including canaloplasty, featuring Shear Clear technology
• iTrack
• Molteno3
• Shear Clear
• ViscoInjector
• iLumin

Products and services

• iTrack Advance Flagship illuminated microcatheter with ergonomic handpiece designed to support angle-based MIGS procedures including canaloplasty for the treatment of open-angle glaucoma. Features Shear Clear Technology for enhanced viscoelastic delivery and has FDA 510(k) clearance and CE Mark.
• iTrack Original iTrack microcatheter with a proven track record in canaloplasty dating back to 2008, used in more than 150,000 procedures globally for the treatment of open-angle glaucoma.
• Molteno3 Glaucoma drainage device for severe and complex glaucoma cases, built around a slim, contoured 4mm polypropylene plate designed to sit close to the sclera for reliable intraocular pressure reduction.
• ViscoInjector Surgical accessory that connects via a 24-inch infusion line through which viscoelastic is pushed under high pressure to maximize shear stress during canaloplasty procedures.
• iLumin Fiber-optic illuminator accessory used with iTrack devices to provide enhanced visualization during canaloplasty and MIGS surgical procedures.

Quantifiable outcome

• 190-fold viscosity reduction achieved through Shear Clear Technology
• +3 more outcomes

Named customers10 records

Segments2 records

Ideal customer profiles2 records

Technology focussed Yes

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Feature6 records

Partnerships

Two partnerships are on record, tiered minor and core.

• ComputershareminorOthersNova Eye Medical uses Computershare as its share registry provider for ASX-listed shares. Shareholders can access the Computershare Investor Center for holding information and communication preferences. Contact details provided for Melbourne, Australia office.
• Surgeon Partners NetworkcoreStrategic or Co-development PartnerNova Eye Medical maintains a network of 20+ key opinion leader (KOL) surgeon partners who serve as advisors, trainers, and clinical evidence generators. Partners include pioneers like Mahmoud Khaimi MD who helped develop iTrack Advance and perform procedures like the world's first ab interno canaloplasty.

Scale indicators5 records

Recent moves5 records

Expansion highlights5 records

Direct peers

• Glaukos Corporation: Pure-play MIGS pioneer behind the iStent family of trabecular micro-bypass stents, the cornerstone direct competitor to Nova Eye's canaloplasty offering. Both companies target glaucoma surgeons seeking MIGS alternatives to drop therapy and invasive filtering surgery.
• New World Medical: Manufacturer of glaucoma drainage implants (Ahmed, Baerveldt) used in severe and complex glaucoma cases — the direct competitive set to Nova Eye's Molteno3. Both companies supply surgical glaucoma drainage devices to ophthalmic surgeons and academic medical centers.
• SightSciences: Developer of the OMNI Surgical System, which performs ab interno canaloplasty and trabeculotomy — the most direct functional competitor to iTrack Advance. SightSciences targets the same glaucoma surgeon customer base and increasingly competes head-to-head on canaloplasty cases.

Broad incumbents

• Johnson & Johnson Vision: Major ophthalmic device platform (post-Abbott/AMO acquisition) with a portfolio spanning cataract surgery, MIGS, and refractive. J&J Vision competes with Nova Eye in MIGS-adjacent surgical glaucoma categories and brings deep hospital contracting leverage.
• Alcon: Global ophthalmic device giant offering the Hydrus Microstent and a broad surgical/medical device portfolio. Alcon competes with Nova Eye in MIGS and adjacent ophthalmic surgical categories, with far greater commercial reach and R&D resources.

Emerging players

• iSTAR Medical (Santen): Developer of the MINIject supraciliary MIGS device (acquired by Santen). iSTAR targets the same MIGS surgeon customer with a subconjunctival-free drainage approach that competes with Nova Eye's canaloplasty and Molteno3 offerings.

Others

• BVI Medical: Manufacturer and distributor of ophthalmic surgical instruments and devices (including former Beaver-Visitec lines). BVI serves the same ophthalmic surgical customers as Nova Eye and competes in adjacent device categories, with overlap in surgical instrumentation and consumables.
• MicroSurgical Technology (Corza Medical): Ophthalmic surgical instrument and device supplier (now part of Corza Medical) serving the same hospital and ambulatory surgical center customers as Nova Eye. MicroSurgical Technology is relevant as an adjacent peer competing in ophthalmic surgical tools and devices used alongside MIGS procedures.

Market position

Strengths5 records

Weaknesses5 records

Competitive moat5 records

Key risks6 records

Key highlights6 records

Customer concentration

• YouTubeyoutube.com/@novaeyemedical
• LinkedInlinkedin.com/company/nova-eye-medical
• Instagraminstagram.com/novaeyemedical.official

Compliance3 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles1 record

Subsidiaries1 record

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nova Eye Medical