Market Overview

RadianceTx Raises $1 Million First Tranche to Develop Novel Glaucoma Therapy


RadianceTx Beta Ophthalmic System Unlocks the Clinical Potential of
Glaucoma Surgical Interventions

RadianceTx™, a leader in ophthalmic therapeutic innovation, today
announced a $1 million first tranche closing of a targeted $7 million
round of financing. The investment will be used to fund development of
the Company's Beta Ophthalmic System for delivery of beta irradiation
therapy to improve glaucoma surgery outcomes. Validated in three
clinical studies conducted by preeminent ophthalmic research teams, beta
therapy has been shown to improve glaucoma surgery outcomes. A recent
study reported odds ratios that beta irradiation therapy patients were
five and a half times more likely to experience lower intraocular
pressure at the end of one year than patients treated with the current
standard of care.

Glaucoma is the leading cause of irreversible blindness. The most
successful way to prevent vision loss from glaucoma is to lower
intraocular pressure with drainage surgery; this surgery shunts fluid
out of the eye through a channel created during a trabeculectomy
procedure or by a flow-controlled drainage device placed during
Minimally Invasive Glaucoma Surgery (MIGS). Despite compelling
therapeutic advantages over nonsurgical treatments, drainage surgery and
devices are clinically limited by postoperative scarring. RadianceTx's
Beta Ophthalmic System is designed to apply beta therapy to the surgical
site to down-regulate fibroblasts that cause scar tissue, keeping the
channel open and maintaining reduced intraocular pressure.

Sir Peng Khaw, Consultant Ophthalmic Surgeon and Professor of Glaucoma
Studies and Wound Healing, and member of the Board of Directors at
RadianceTx said: "For glaucoma surgery to be maximally successful,
anti-scarring therapies must be effective, consistent in dosage as well
as fast and very easy to administer. In combination with new glaucoma
drainage devices, RadianceTx Beta Ophthalmic System could revolutionize
the treatment of glaucoma."

A device solution, RadianceTx Beta Ophthalmic System is designed to
topically apply beta therapy to trabeculectomy or MIGS drainage device
implantation sites. Currently, scarring prevention involves the complex
and time-consuming intra-operative application of antimetabolites
(chemotherapy drugs) yet still results in a failure rate approaching 50
percent at three years. Ian Murdoch and colleagues have carried out
three randomized controlled trials involving 728 patients which have
demonstrated beta therapy's clinical effectiveness in drainage surgery.
The new RadianceTx Beta Ophthalmic System is designed to optimize
surgical workflow efficiency by requiring only 25 seconds for beta
therapy application, minimizing stray dosing to non-target tissues, and
eliminating medical staff exposure to hazardous chemotherapy drugs.

"I am pleased to announce this initial funding for RadianceTx, which
allows us to begin commercial development," said Harry George, President
and Chief Financial Officer of RadianceTx. "The RadianceTx team
possesses a track record of achieving regulatory market clearances for
other medical and ophthalmic devices and is poised to advance the
standard of care for glaucoma surgery with the RadianceTx Beta
Ophthalmic System."

The glaucoma device market is growing rapidly. In the United States
alone there were 70,000 trabeculectomies in 2017. In the UK,
trabeculectomies peaked at greater than 20,000. The Minimally Invasive
Glaucoma Surgery (MIGS) device market is expected to grow at a compound
annual growth rate of nearly 44 percent to $1.36 billion by 2022.

About RadianceTx

RadianceTx is a trademark of Radiance Therapeutics, Inc., a Delaware
corporation. Radiance Therapeutics, Inc., a leader in ophthalmic
therapeutic innovation, is commercializing a clinically demonstrated
novel anti-metabolite therapy for glaucoma drainage surgery. For more
information, visit:

Caution: Investigational Device.

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