ReVision Optics and NovaMedica Sign Commercial Agreement to Market and Distribute Raindrop Vision Correction Technology in Russia
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
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.
NovaMedica is a modern Russian pharmaceutical company founded in 2012 by Domain Associates LLC, U.S. venture capital firm, and RUSNANO, JSC. NovaMedica’s strategy is aimed at search, registration and localization in Russia of intellectual property rights for innovative pharmaceuticals products and technologies, as well as at development and implementation of own R&D projects.
NovaMedica owns intellectual property rights within Russia and the CIS on 36 innovative developments from the portfolio of the RusnanoMedInvest venture fund. These preparations are for antiviral and anti-inflammatory therapy, treatment of ophthalmic diseases and epilepsy, innovative technologies for detection of oncological and infectious diseases.
Also NovaMedica is working on creation of a number of its own products. R&D department of the company plans to develop about 15 innovative drugs until 2022. These are drugs for treatment of diseases in the field of gastroenterology, pain management, neurology, ophthalmology and rheumatology.
In April 2017, NovaMedica opened the Technological Center “NovaMedica Innotech” that has the latest technological capabilities previously unavailable in the Russian pharmaceutical industry. The company also has a developed infrastructure for promoting and selling pharmaceutical products.
For more information, please visit www.novamedica.com
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RUSNANO Joint-Stock Company was founded in March 2011 through reorganization of state corporation Russian Corporation of Nanotechnologies. JSC RUSNANO contributes to implementation of the state policy on the development of the nanotechnology industry by investing directly and through investment funds of nanotechnology in financially effective high-technology projects providing the development of new production facilities in the Russian Federation. Its primary investment focus is in electronics, optoelectronics and telecommunications, healthcare and biotechnology, metallurgy and metalwork, energy, mechanical engineering and instrument making, construction and industrial materials, chemicals and petrochemicals. 100 percent of RUSNANO’s shares are state owned. Thanks to RUSNANO’s investments, there are currently 138 factories and R&D Centers opened in 37 regions in Russia.
Management of assets of RUSNANO JSC is carried out by Limited Liability Company established in December 2013, RUSNANO Management Company.
Work to establish nanotechnology infrastructure and carry out educational programs is fulfilled by RUSNANO’s Fund for Infrastructure and Educational Programs, which was also established during the reorganization of the Russian Corporation of Nanotechnologies.
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Domain Associates, LLC is a venture capital firm with an exclusive focus on life sciences. With $2.4 billion of capital under management, Domain is headquartered in Princeton, NJ with a second office in San Diego, CA. Partners of Domain have been involved in the formation and growth of more than 235 life-sciences companies. Domain has an investment portfolio of 80 companies.
For more information, please visit www.domainvc.com