ReVision Optics develops and commercializes the Raindrop Near Vision Inlay, an implantable device placed in the cornea of the non-dominant eye to correct presbyopia. The Raindrop is a transparent, approximately 80% water inlay with a refractive index similar to the cornea that reshapes anterior corneal curvature to improve near vision during a roughly 10-minute procedure. Raindrop received U.S. FDA approval on June 29, 2016, and the first U.S. commercial cases were performed on August 30, 2016; it has also received CE Mark authorization and approvals or registrations in South Korea, Australia, and New Zealand. Since the U.S. launch, more than 100 surgeons have scheduled cases, and the company initially focused launch sites that participated in the IDE clinical trial. Proceeds from the company's recent $32 million equity financing will support expansion of U.S. commercialization, including a larger commercial field organization, expanded marketing, and a strengthened medical affairs team. ReVision plans to train more surgeons on the Raindrop procedure and expand contact with additional ophthalmologists as it rolls out nationally. ReVision Optics focuses on the development and commercialization of the Raindrop Near Vision Inlay, an implantable device that reshapes the anterior corneal curvature to improve near vision. The Raindrop Inlay is composed of approximately 80% water, is transparent, and is placed in the non-dominant eye during a brief procedure. The device has received U.S. FDA approval (granted June 29, 2016), CE Mark authorization for the EU, and approvals or registrations in South Korea, Australia, and New Zealand, with other country-specific registrations pending. The company is building commercial infrastructure in advance of a U.S. launch scheduled for late this month. To support commercialization and working capital needs, ReVision Optics has secured external financing. The company is headquartered in Lake Forest and San Diego, California. ReVision Optics develops and commercializes the Raindrop Near Vision Inlay, a microscopic hydrogel inlay designed to correct presbyopia by microscopically reshaping the anterior corneal curvature. The Raindrop is placed beneath the surface of the non-dominant eye in a brief procedure, is ~80% water with a refractive index similar to the cornea, and is intended to restore near and intermediate vision without restricting light to the retina. The company recently completed patient enrollment in its U.S. IDE clinical trial evaluating the Raindrop's safety and effectiveness. ReVision says the new financing provides the resources to carry it through the FDA PMA process and to expand its commercial footprint outside the U.S. As part of its commercialization strategy, the company has a commercial supply and distribution agreement with NovaMedica (a partnership of Domain Associates and Rusnano) to commercialize Raindrop in Russia and the CIS. The $55 million financing strengthens the company's financial position to support regulatory and international commercialization efforts. ReVision Optics is a Lake Forest, CA-based ophthalmic surgical products company that specializes in the research, development and manufacturing of custom products to correct and maintain near vision. Its core product is the PresbyLens® corneal inlay for the correction of presbyopia. This spring the company began US clinical trials to evaluate the PresbyLens by studying 400 patients over a two-year period. ReVision Optics is actively pursuing regulatory approvals and market opportunities worldwide. The company holds a CE mark and is approved for sale in Europe. It received $35M in capital funding to support its development and commercialization efforts.

Total raised

$132M

Funding rounds

4

Latest round

Equity

Latest activity

Nov 2016