Highlights

  • Invion has entered its first ophthalmology collaboration with South Korea’s SANGMYUNG Innovation to expand Photosoft™ into wet AMD treatment research.
  • SANGMYUNG will fully fund and conduct preclinical proof-of-concept studies using Invion’s Photosoft compounds.
  • The Partnership targets the rapidly growing global wet AMD market, projected to reach US$16.7 billion by 2032.

Why Is Invion Expanding Photosoft Into the Wet AMD Market?

Invion Limited (ASX:IVX) has announced a strategic collaboration with South Korean ophthalmology specialist SANGMYUNG Innovation to evaluate its Photosoft™ photodynamic therapy platform for retinal vascular diseases, including wet age-related macular degeneration (wet AMD). Under the agreement, SANGMYUNG will fund and conduct preclinical efficacy studies using selected compounds from Invion’s library of more than 300 Photosoft photosensitisers. Invion will provide the compounds and light devices while retaining all intellectual property rights. The partnership marks Invion’s first entry into the ophthalmology sector and expands the potential application of Photosoft beyond oncology. The collaboration aims to address significant unmet needs in wet AMD treatment, particularly for patients who Fail to respond to current anti-VEGF therapies.

Could Photosoft Offer a New Alternative for Wet AMD Patients?

Wet AMD remains one of the leading causes of irreversible vision loss among older adults globally. Although anti-VEGF therapies have become the standard treatment, many patients either fail to respond or eventually develop resistance over time. Invion and SANGMYUNG believe the combination of Photosoft’s next-generation photodynamic therapy and SANGMYUNG’s targeted suprachoroidal drug delivery system could create a more effective treatment pathway. SANGMYUNG’s proprietary device is designed to deliver therapies directly to the eye with improved bioavailability and longer-lasting effects. The companies hope the preclinical studies will demonstrate that Photosoft may overcome some limitations associated with existing photodynamic therapies currently available in the market.

Why Is the Global Wet AMD Opportunity Attracting Attention?

The wet AMD market continues to grow rapidly due to ageing populations and increasing Demand for advanced ophthalmic treatments. The global market was valued at approximately US$10.6 billion in 2025 and is forecast to reach nearly US$16.7 billion by 2032. Despite advances in anti-VEGF drugs, a substantial percentage of patients still experience inadequate treatment outcomes or reduced long-term effectiveness. Existing FDA-approved photodynamic therapies also face Manufacturing and Supply limitations globally. Invion’s collaboration with SANGMYUNG represents an early-stage opportunity to explore a potentially differentiated treatment approach within a large and expanding market. If the initial preclinical studies produce promising results, the companies may move toward broader development and future clinical programs.