American venture Fund Domain Associates, venture investment company RusnanoMedInvest (RMI, affiliate of ROSNANO) and a group of co-investors invest $55M in the company ReVision Optics, Inc., which develops innovation medical technology for treatment of age-dependent visual acuity decrement.
Investments in ReVision Optics, Inc. became fifth joint deal in realization of agreement between ROSNANO and Domain Associates LLC., executed on March, 2012. The partnership assumes joint investing in leading medicine technologies with the aim of its transfer to Russia, and also further manufacture and commercialization of innovation products within the limits of jointly established pharmaceutical company NovaMedica. The total budget of investment project is $760M. For realization of agreement on the side of ROSNANO there has been created a company RMI, on the side of Domain Associates - Domain Russia Investments (DRI). The company “Tim Drive” is attracted to manage the project.
The company ReVision Optics carries out research and commercialization of a technology PresbyLens (RainDrops), intended for presbyopia correction. The question is about eye refractive error, which is a result of an essential process of aging, by which a human being can not review the small print or small items on a at a short distance. This impairment of vision appears from most people older than 50 years old.
PresbyLens (RainDrops) intends a new technology of refractive surgery – introduction of hydrogel insert under eye cornea. Expected by the company approach and tooling is innovative in comparison with alternatives: surgical aggression takes several minutes, eyesight recovery takes several days, incert is invisible, easy to implant with minimum surgery attack, surgical aggression is reversible.
The technology is at a last third stage of clinical investigation. The results of previous stages of investigation approved efficiency and safety of the technology, significant improvement of acuty of vision after the surgery and protection of these indexes during the long period of time. Besides, the patients’ survey showed a high level of satisfaction by treatment result.
Financing, received from this round of investment setting, the company plans to direct on further clinical investigations conducting in USA and Russia, and on technology`s registration.