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FINANCIAL NEWS
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ReVision Optics nabs $35 million in funding

Lake Forest-based firm secures the financing as it begins its U.S. clinical trials for vision condition treatment.

By Kristen SchottPublished: May 25, 2010 12:57 PM

Courtesy of Fotolia
Lake Forest-based ReVision Optics has secured $35 million in capital funding. The financing round was led by ProQuest Investments. Investors Domain Associates; Canaan Partners; and InterWest Partners also participated.

The funding comes as the opthalmic surgical device firm begins the U.S. clinical trial of its PresbyLens corneal inlay, which may be able to correct presbyopia, a vision condition that affects aging adults.

"It is encouraging and exciting to have this support from all of our investors as we continue to research and develop a solution for the common aging eye condition of presbyopia,” said J. Randy Alexander, president and CEO of ReVision Optics.

The test will evaluate the product's ability to fix the condition in 400 patients over a two-year time frame.

Presbyopia affects more than 70 million adults in the U.S., according to the firm. The condition usually occurs when individuals reach their mid-40s, and it makes reading or focusing on nearby objects difficult.

PresbyLens is said to reshape the cornea to improve an individual's near vision.

ReVision Optics is a privately held company that researches and develops near-vision correction products.

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