Tasmanian Researchers Secure $500K for Novel Eye-Drop

New research, led by Associate Professor Nuri Guven from the University of Tasmania, has secured $500,000 for pioneering a diabetic retinopathy eye-drop treatment.

The funding, awarded to the newly established company Aspecthera Pty Ltd, will support the development of a world-first, non-invasive, and cost-effective treatment designed to protect eye blood vessels from inflammation and leakage, ultimately aiming to prevent vision deterioration in millions globally.

Media release – University of Tasmania, 24 June 2025

Novel eye-drop treatment for diabetic retinopathy secures $500,000 funding

Tasmanian researchers are developing a new eye-drop therapy specifically for the early stages of diabetic retinopathy (DR), a leading cause of irreversible blindness affecting millions globally.

The research is made possible through establishing a company, Aspecthera Pty Ltd, and securing $500,000 in MRFF funding from the Targeted Translation Research Accelerator program for Diabetes and Cardiovascular Disease, delivered by MTPConnect.

Aspecthera aims to deliver a world-first, non-invasive and cost-effective treatment for early-stage DR.

The investment will support the development of a regulatory-compliant eye-drop formulation designed to protect the blood vessels in the eye against inflammation and leakage – key contributors to vision deterioration in patients with diabetes.

“Right now, more than 150 million people worldwide live with diabetic retinopathy. It affects approximately 30% of adults with diabetes,” Associate Professor Nuri Guven from the University of Tasmania’s School of Pharmacy and Pharmacology said.

Associate Professor Guven will jointly lead the drug development alongside colleagues Professor in Chemistry Jason Smith from the School of Natural Sciences and Dr Philip Young from the University’s research commercialisation function, InVent (Innovation Ventures).

“Current treatment is incredibly invasive – it typically involves injections directly into the eye every few weeks,” Associate Professor Guven said.

“It requires regular access to ophthalmologists to perform the procedure, it’s only available for patients in the final stages of disease, and it’s expensive.

“Our research is focused on changing that trajectory.”

The TTRA investment will support formal pre-clinical studies to pave the way for clinical trials and, ultimately, patient use.

“By intervening earlier with a simple, non-invasive treatment, we aim to preserve vision, improve patient quality of life, and reduce the long-term burden on healthcare systems globally,” Associate Professor Guven said.

Chair of InVent’s independent Board, Rhys Edwards, congratulated the team on the establishment of the new company and funding award which will help progress the research from bench to bedside.

“This is a fantastic example of the kind of high-impact, translational research that the University of Tasmania is championing,” Mr Edwards said.

“The potential to improve outcomes for millions of people living with diabetes is profound.”

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