ReVision Optics Closes $55 Million Financing

LAKE FOREST, Calif.— ReVision Optics, Inc. (RVO), a leader in implantable corneal inlay technology to treat presbyopia, announced that it has raised $55 million in an equity financing that includes past investors Canaan Partners, ProQuest Investments, InterWest Partners and Domain Associates, and new investors Johnson & Johnson Development Corporation (JJDC) and RusnanoMedInvest (RMI).

“We are clearly delighted to complete this strategic financing with such highly regarded health care venture investors,” said John T. Kilcoyne, RVO president and CEO. “Participation by all of our existing investors, Canaan, ProQuest, InterWest and Domain, combined with the capital from new investors JJDC and RMI, provides our company with the necessary financial resources to carry us through the FDA PMA process for the Raindrop Near Vision Inlay and to expand our current commercial footprint outside the U.S.,” he added.

“In addition to our significant financing milestone, I am also extremely proud to announce that we recently completed patient enrollment in our U.S. Investigational Device Exemption (IDE) clinical trial designed to evaluate the safety and effectiveness of the Raindrop in improving near vision in patients with presbyopia,” he added.

“As part of the financing, we 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.”