MELBOURNE, Australia, Oct. 30, 2020 /PRNewswire/ -- PolyActiva Pty Ltd, a clinical-stage ophthalmology biopharmaceutical company, today announced the appointment of highly experienced ophthalmic industry expert, Tracy Valorie, as a new member to the company's Board of Directors.

Ms Valorie is recognized in the industry for her success in building and leading high performing teams and for her ability to lead commercialization of innovative products in ophthalmology.

Ms Valorie was previously the Senior Vice President and General Manager of the US Pharmaceutical and Surgical Business of Bausch + Lomb. Prior to joining Bausch + Lomb, Ms Valorie was the Commercial Lead of Ophthalmology at Pfizer Inc. in New York, NY.

"Ms Valorie's extensive experience in both development of new products for the treatment of ophthalmic conditions and their ultimate commercialization will be a significant asset to the team," said PolyActiva's CEO, Dr Russell Tait. "We are delighted to have Ms Valorie join. PolyActiva will benefit immensely from the diverse sector experience and strategic input she brings to the company."

"She has joined PolyActiva just as we advance our first two assets into the clinic and seek to expand our strategic and technical capabilities," continued Dr Tait. "Our ultimate goal is to become a premier company in ophthalmic drug delivery."

Ms Valorie has spent more than half of her career dedicated to ophthalmology and is dedicated to advancing the category. She has previously held board membership seats at The Glaucoma Foundation and the ARVO Foundation for Eye Research.

She is also a former board member of and current advisor to Ophthalmic World Leaders (OWL), Advancing Diversity in Leadership, which aims to promote and develop diverse leadership to advance Ophthalmic Innovation and Patient Care.

"I am honoured to join PolyActiva's Board as the company moves into this new phase of growth," said Ms Valorie. "The company's technology has unique capabilities that have the potential to serve patients across a variety of ophthalmic disorders."

"The implants provide sustained treatment that can be tailored for the indication. The two programs in clinical development, one for glaucoma and one for prevention of infection demonstrate the flexibility of the platform and give confidence in use of the technology for other disease categories," continued Ms Valorie. "I look forward to working closely with the board and management to realize the full potential of this technology."

About PolyActiva Pty Ltd

PolyActiva is a clinical-stage biopharmaceutical company focused on the development of sustained release site-specific drug delivery products for ophthalmology. The products currently under development are designed to alleviate daily eye drop therapy for patients. The company has two products under development, its' Latanoprost FA SR Ocular Implant for which a Phase Ib/IIa clinical trial is underway after the successful completion of a Phase Ia clinical trial for the treatment of open angle glaucoma. The second is a Levofloxacin SR Ocular Implant, an antibiotic-based ocular implant, being developed as a treatment to reduce the risk of infection after cataract surgery. A Phase Ia clinical study will commence in October 2020.  PolyActiva is based in Melbourne, Australia, and has secured venture capital funding from Brandon Capital's Medical Research Commercialization Fund (MRCF) and Yuuwa Capital.

About the Medical Research Commercialisation Fund (MRCF) and Brandon Capital Partners

Brandon Capital Partners is a venture capital firm that manages the Medical Research Commercialisation Fund (MRCF), Australia and New Zealand's largest life science investment fund, with over AU$680 million under management. The MRCF is a unique collaboration between major Australian superannuation funds, the Australian and New Zealand governments, Australian state governments and more than 50 leading medical research institutes and research hospitals. The MRCF supports the development and commercialization of early-stage biomedical discoveries originating from member research organizations, providing both capital and expertise to guide the successful development of new therapies. The MRCF has supported more than 40 start-up companies to date, 34 of which were founded by the MRCF.

For more information about Brandon Capital Partners, visit www.brandoncapital.com.au

About Yuuwa Capital LP

Yuuwa Capital is a $40M early-stage venture capital firm based in Perth, Western Australia. Yuuwa invests in outstanding opportunities where Yuuwa can provide both capital and expertise to help founders, management and early investors build great companies. Yuuwa invests in early stage companies principally in the areas of Life Sciences and Information and Communications Technology. Yuuwa Capital's formation in 2009 was supported by private investors and also by the Australian Federal Government's Innovation Investment Fund program.

For more information, visit www.yuuwa.com.au