PainReform Ltd. enters into a Strategic Investment Agreement to Expand its Non-Opiate Pain Management Pipeline into Opthamology with LayerBio

Core Insights - PainReform Ltd. has signed a strategic investment agreement with LayerBio Inc. to expand into the ophthalmology market, targeting the high-volume cataract surgery segment with a new drug delivery platform [1][2][5] - LayerBio's lead product, OcuRing™-K, is a sustained-release intraocular ring designed to deliver anti-inflammatory and analgesic agents post-cataract surgery, potentially replacing traditional eye drops [3][4] - The investment agreement includes an initial investment of $600,000, with a total commitment of $3 million contingent on achieving specific milestones [4][5] Company Overview - PainReform focuses on reformulating established therapeutics and developing AI-driven energy optimization technologies through its DeepSolar platform [7][8] - The company aims to provide prolonged post-surgical pain relief while minimizing opioid reliance through its proprietary extended-release drug-delivery system [8] Market Opportunity - Approximately 3 million cataract surgeries are performed annually in the United States, presenting a significant clinical and commercial opportunity for OcuRing-K [3] - The strategic investment aligns with PainReform's mission to broaden its non-opiate pain management pipeline in high-need surgical markets [5][6] Leadership and Management - Dr. Ken Mandell, a recognized leader in sustained-release drug delivery and founder of LayerBio, will continue to lead the company [5][6] - Dr. Mandell has a strong background in ophthalmology and biotechnology, holding over 15 U.S. patents and contributing to numerous clinical trials [5]