Core Insights - PainReform Ltd. has acquired a majority equity interest in LayerBio, a biotechnology company focused on sustained-release drug delivery technologies in ophthalmology, particularly targeting the cataract surgery market [1][2][8] - The global cataract surgery market is valued at over $3 billion in the U.S., with an estimated 4.5 million surgeries performed annually, driven by an aging population and improved surgical access [2][3] - LayerBio's lead product, OcuRing™-K, is a sustained-release intraocular ring designed to deliver Ketoralac, addressing the need for "dropless" postoperative solutions in cataract surgery [4][5] Company Overview - PainReform focuses on reformulating established therapeutics and developing AI-driven energy optimization technologies, with a commitment to applying precision technology in healthcare and sustainable energy [9] - LayerBio's technology allows for extended drug release from a single application, minimizing the need for patient-administered drops and maximizing local therapeutic effects [6] - Dr. Ken Mandell, a recognized leader in sustained-release drug delivery, will continue to lead LayerBio, guiding its operations and product development efforts [7] Market Opportunity - The acquisition positions PainReform to address a significant clinical need in the cataract surgery market, with plans to advance OcuRing™-K through clinical development in the U.S. [8] - The companies aim to explore broader ophthalmic applications beyond cataract surgery, including glaucoma and corneal transplants [8] - OcuRing™-K offers a transformative alternative to traditional postoperative regimens, which often involve complex eye drop schedules that can lead to poor patient compliance [3][5]