May 28 2010
A California-based company ReVision Optics (RVO) has secured $35 million dollars in capital funding. ProQuest Investments led the financing round and investors such as Canaan Partners, InterWest Partners, Menlo Park and Domain Associates also participated in the process. ProQuest Investments operates a number of offices in Princeton, California, Canada, Montreal and San Diego.
ReVision Optics, who develops customized products for near-sighted problems, has initiated new clinical studies of its patented PresbyLens corneal inlay. The studies will assess the use of corneal inlay for rectifying a vision condition, presbyopia. The trials will be conducted for a period of two years and will recruit 400 patients.
Presbyopia is a common eye condition that occurs among a majority of adult population. It is presumed that over 73 millions of Americans have this eye condition, and mostly people in their mid-40s are affected by this condition. The eye condition normally occurs when the eye’s natural lens loses its capacity to see close objects. Adults with normal vision may experience difficulty in reading computer screens and newspapers in close proximity
The PresbyLens is a 2 mm corneal inlay that is specifically designed to rearrange the eye’s cornea, and improves users’ near-vision problems. The PresbyLens was made by using a biocompatible material, which closely resembles to the material utilized in current generation of soft contact lens.
ReVision Optics’ President and Chief Executing Officer, J. Randy Alexander, stated that the company is happy to receive the support from ProQuest Investments and other investors. He informed that the company will begin the clinical studies in the U.S. and then will introduce the technique in Europe.