ReVision Optics, manufacturer of optic solutions to correct presbyopic vision, announced on Monday that it raised US $55 million in equity funding. The round is led by new investors Johnson & Johnson Development Corp. and RusnanoMedInvest. Existing investors ProQuest Investments, Domain Associates, Canaan Partners and InterWest Partners also joined the round.
John T. Kilcoyne, ReVision CEO, said the money will be used to boost the company's footprints outside North America. The fund will also be utilized in the process of securing pre-market approval from US Federal Drugs Administration of its chief product, the Raindrop Near Vision Inlay.
Kilcoyne further said that ReVision has recently finished the patient enrollment for the clinical trials to test the efficacy of Raindrop. Also, part of the financing incited an inking of a supply deal with NovaMedica to distribute Raindrop in Russia
"This agreement supports our mission to bring the Raindrop, with its strong visual acuities, high patient satisfaction and WOW factor, to the millions and millions of people around the world who are seeking to reduce their reliance on reading glasses," he said.
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