Revision Optics, manufacturer of the Raindrop implantable corneal device for correction of near vision, the first FDA-approved device that changes the shape of the cornea to correct vision, has closed down.
“It is with regret that we have to close our doors,” said the company in an announcement. “The Raindrop inlay will not be sold to ophthalmic practices or distributors as of Tuesday, January 30, 2018.”
Revision received FDA approval in June 2016 and raised US$32 million in equity financing from a number of investors, led by Johnson & Johnson Development, in November 2016 to support commercialisation.
Though Revision said it still hopes to still sell the IP for Raindrop, currently it has no offers.
