31 July 2013
MOSCOW, July 31, 2013 - NovaMedica, a Russian pharmaceutical and medical device company, and ReVision Optics, Inc. the U.S. developer of the innovative refractive surgery solution against presbyopia Raindrop™ Near Vision Corneal Inlay, have signed an agreement to commercialize this technology in Russia.
Under the agreement, NovaMedica will obtain exclusive rights to distribute this technology in Russia and other CIS countries. ReVision Optics retains the rights to commercialize this technology in other countries worldwide. Partners are also contemplating working together on other future projects.
"We are very pleased with this new alliance between ReVision Optics and NovaMedica. This will seed our ophthalmology surgery franchise in Russia/CIS with a great innovator from Southern California,“ said Fabrice Egros, COO of NovaMedica. “By commercializing this technology our partner ReVision will gain access to the dynamic Russian market as it launches its product in the United States, and Russian patients will have the opportunity to be treated with this new vision improvement technology".
“We are delighted with our partnership with NovaMedica, as this agreement and their knowledge of the Russian/CIS market supports our mission of actively pursuing worldwide market opportunities for the Raindrop™ to provide a viable alternative to the millions and millions of people around the world who want to eliminate their reliance on their reading glasses,” said John Kilcoyne, CEO and President of ReVision Optics.
The Raindrop Near Vision Inlay is a microscopic hydrogel inlay designed to correct presbyopia, thus reducing or even eliminating the need for reading glasses. The Raindrop is placed just beneath the surface of the non-dominant eye during a 5-minute procedure. It is comprised of approximately 80% water and therefore has a refractive index very similar to the cornea. The inlay gently produces a smooth variation in focal power across the pupil by microscopically altering the surface shape of the cornea. It is as transparent as natural tears, and therefore does not restrict the amount of light reaching the retina. The gentle reshaping of the anterior curvature of the cornea provides for a natural restoration of near and intermediate vision.
Presbyopia is considered to be a natural part of the aging process and is believed to be caused by the gradual loss of elasticity of the eye’s lens, which decreases the ability to focus up close. The first symptoms usually occur between the ages of 40 and 50.
ReVision Optics has recently completed patient enrollment in its U.S. Investigational Device Exemption (IDE) clinical trial designed to evaluate the safety and effectiveness of the Raindrop Near Vision Inlay in improving near vision in patients with presbyopia and is now in the process of gathering follow up data to submit to the U.S. FDA for approval.
Clinical trials and the registration of the technology will be conducted in Russia at the earliest possible time and in strict accordance with the targets and priorities set out in the Russian government’s Pharma-2020 strategy for the development of the Russian pharmaceutical industry.
ReVision Optics®, Inc., (RVO) is a privately held corporation headquartered in Southern California, USA. http://revisionoptics.com/
NovaMedica is a Russian pharmaceutical company established in 2012 by DRI Holdings Limited, a portfolio company of Domain Associates LLC, and Russian investment corporation RUSNANO, which implements government policy on the development of hi-tech industries. The company’s strategy is aimed at localizing production of a wide range of new medicines and technologies on the Russian market, including screening and registration, and the creation of innovative GMP-standard manufacturing facilities. www.novamedica.com
RUSNANO was founded in March 2011 as an open joint stock company through the reorganization of state corporation Russian Corporation of Nanotechnologies. RUSNANO's mission is to develop the Russian nanotechnology industry through co-investment in nanotechnology projects with substantial economic potential or social benefit. The Government of the Russian Federation owns 100 percent of the shares in RUSNANO. Anatoly Chubais is CEO and chairman of the Executive Board of RUSNANO. www.rusnano.com
Domain Associates, L.L.C., founded in 1985, is a venture capital firm with an exclusive focus on investing in life science companies that advance human health. With more than $2.7 billion in capital raised, Domain invests in three major segments: pharmaceuticals, diagnostics, and medical devices. The partners of Domain have a total of more than 270 person-years of experience among them in the healthcare and venture capital industries and have been involved in the formation and growth of more than 250 life sciences companies. Representative past investments include Amgen, Amylin Pharmaceuticals, Cerexa, Biosite, Dura Pharmaceuticals, Pharmion and Volcano. Domain has offices in Princeton, N.J. and San Diego. www.domainvc.comPrint
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