ReVision Optics, Inc., a Lake Forest, CA-based developer of implantable corneal inlay technology to treat presbyopia, raised $55m in equity financing.
Backers included existing investors Canaan Partners, ProQuest Investments, InterWest Partners and Domain Associates, and new investors Johnson & Johnson Development Corporation (JJDC) and RusnanoMedInvest (RMI). As part of the financing, the company entered into a commercial supply and distribution agreement with NovaMedica, a partnership formed by Domain Associates and Rusnano, which is wholly owned by the Government of the Russian Federation, to commercialize the Raindrop in Russia and the Commonwealth of Independent States.
The company will use the proceeds to go through the FDA PMA process for the Raindrop™ Near Vision Inlay and to expand its current commercial presence outside the U.S.
Led by John T. Kilcoyne, President and Chief Executive Officer, ReVision Optics focuses on the development and commercialization of optical solutions dedicated to presbyopic vision correction. Its Raindrop Near Vision Inlay is a microscopic hydrogel inlay that is designed to correct presbyopia, thus reducing or even eliminating the need for reading glasses. The inlay is placed just beneath the surface of the non-dominant eye during a 5-minute procedure.