SpyGlass Pharma is taking a major step toward changing how eye diseases are treated by filing for a $100 million initial public offering. Based in California, this biotechnology company is in the final stages of testing a new way to deliver medicine for chronic eye conditions. Instead of patients having to use daily eye drops, SpyGlass has created a system that delivers medicine automatically for up to three years. They plan to list their shares on the Nasdaq stock market under the ticker symbol SGP.

The company’s most advanced product is designed specifically for people who have glaucoma and are already undergoing cataract surgery. During the routine operation, a surgeon implants a special lens that has tiny medicine pads attached to it. These pads slowly release a proven drug called bimatoprost to keep eye pressure at healthy levels. This is a huge deal because many patients struggle to remember their daily drops, which can lead to permanent vision loss if the pressure isn’t controlled.

Recent tests have shown very positive results for this new technology. In early trials, patients saw their eye pressure drop by about 37% over a three-year period. Even more impressive is that almost every patient in the study was able to stop using their regular eye drops entirely. The company is also working on a second version of the device that can be used for people who have already had cataract surgery in the past.

SpyGlass intends to use the money raised from the IPO to finish its final Phase 3 clinical trials. These trials are the last big hurdle before the company can ask the government for permission to sell the product. They also recently hired a new Chief Financial Officer with experience in public companies to help them navigate this transition. If successful, this technology could offer a much simpler and more reliable way for millions of people to protect their eyesight.