Revision Optics, Inc. Raises $25 Million in Series D Financing
ReVision Optics, Inc., a leading company in the development, manufacturing and marketing of implantable products to correct and maintain vision, recently announced that it has successfully raised $25 million in a Series D financing led by Domain Associates, with additional investments from existing investors Canaan Partners and InterWest Partners. Brian H. Dovey, partner at Domain Associates, will join the board of directors. ReVision Optics, Inc. targets the refractive surgery market with an emphasis on the surgical correction of presbyopia.
“With this financing, we have achieved another important milestone in establishing the leadership and innovation of ReVision Optics,” said J. Randy Alexander, President and Chief Executive Officer of Revision Optics, Inc. “We are particularly pleased that Domain Associates led this round and has joined our existing investors in supporting the rapid advancement of ReVision Optics’ product development. We welcome Brian Dovey to the board of directors and look forward to his invaluable support.”
Presbyopia is a common vision problem in the United States, currently affecting more than 73 million people. ReVision Optics’ PRESBYLENS™ gently reshapes the cornea to correct a patient’s near vision. This lens is made from a proprietary, optically clear, bio-compatible material that mimics the properties of the cornea, and is removable. In recent clinical trials, Revision Optics’, the PRESBYLENS™, appears to provide positive patient outcomes.
ReVision Optics is presently conducting clinical trials off shore for the PRESBYLENS™. The company will be introducing an IDE in the third quarter of 2007.
“As the baby-boom generation lives longer, more active lives, advances to correct eyesight are required. ReVision Optics is addressing this growing medical problem with innovative products that bring together leading-edge material science with surgical procedures,” said Wende Hutton, Venture Partner, Canaan Partners and member of the Revision Optics board of directors. “We are excited that Domain Associates shares our enthusiasm for ReVision Optics’ important work and has led this round of financing.”
“The PRESBYLENS™ from ReVision Optics has the potential to be the correction of choice for the near vision problems encountered by everyone over age 45,” said Gil Kliman MD, General Partner, InterWest Partners and Chairman of the ReVision Optics board of directors. “The high quality customized optics enable immediate clear vision at distance and near for patients of all ages, with major advantages over bifocals, contact lenses, and experimental surgical approaches. With the addition of Domain Associates to our investor group we now have the resources in place to bring this innovative product to market.”
For more information, please visit www.revisionoptics.com