Bionic Vision Technologies Raising $10 Million for Further Bionic Eye Trial
Bionic Vision Technologies Raising $10 Million For Further Bionic Eye Trial
• Funds to launch next stage clinical trial Q1 2016
• Novel Australian designed technology
• Bionic eye Australian manufacturing “potentially multi-million dollar market”
• Bionic Vision Technologies to leverage Australia’s advanced manufacturing capabilities
Melbourne, Australia 24 June 2015: Bionic Vision Technologies is in the process of raising $10 million to fund crucial next stage development of its bionic eye technology.
These funds will be used to trial the state-of-the-art cochlear implant-like device on three initial patients from early next year, with up to 20 patients expected to be recruited over the next 18 months.
Patients involved in the trial will all be implanted with Bionic Vision Technologies’ next-generation technology developed at the Bionics Institute, which features 44 electrodes instead of the 24 that were used in a successful pilot trial of the technology at the Centre for Eye Research Australia (CERA) and the Royal Victorian Eye & Ear Hospital (RVEEH) in Melbourne.
This next-generation technology is fully implantable, which means that after an initial testing period of 6-9 months, patients will be able to use the device outside of the clinic for further monitoring in their own homes.
This two-year study will be assessed and measured by a series of specialised tests that have been designed to establish the bionic eye’s impact on mobility and independence.
All clinical trial candidates will be in the advanced stages of debilitating degenerative eye disease known as Retinitis Pigmentosa (RP). RP is the most common cause of inherited blindness and affects around 1.5 million people worldwide.
Also in pre-clinical trials in Bionic Vision Technologies’ Sydney-based operations is the fully-implantable 99 electrode bionic eye which is the result of more than 15 years’ research at the University of New South Wales (UNSW Australia) and has many advanced features that may usher in significant benefits to patients.
This updated technology requires unique and novel manufacturing processes that have been developed in-house by specialist engineers. A state-of-the-art manufacturing facility is in operation at UNSW Australia and is currently producing prototype devices. Scaling to commercial manufacture of this device will require a purpose built Australian manufacturing facility.
Bionic Vision Technologies Executive Chairman Robert Klupacs said that manufacturing the next generation 99 electrode model would harness Australia’s existing world class manufacturing expertise in laser-assisted fabrication, microelectronics design, chip-scale hermetic encapsulation and electrode integration – all skills that have been honed by the UNSW team.
“Australia already has this advanced manufacturing expertise,” he said.
“Indeed, some of the extensive advanced manufacturing skills of Australia have already been deployed to the medical device sector and we will be exploring the possibility of partnering with some of these groups to scale up commercial manufacture of this innovative, all-Australian technology as expeditiously as possible.” Mr Klupacs said manufacturing the bionic eye was a low volume, high margin business “akin to Cochlear”.
Bionic Vision Technologies’ devices are implanted at the back of the eye, into a naturally occurring pocket known as the suprachoroidal space.
A pair of glasses containing a small inbuilt camera is worn by patients. Images are captured by the camera and transmitted to an externally worn vision processing unit.
World leading vision processing technology, developed by the Computer Vision Research Group at National ICT Australia (NICTA), is applied to the data before it is transmitted to the electrode array at the back of the retina. Mr Klupacs added: “We believe our approach is a safer, simpler and faster surgical procedure than that employed by our international competitors. Combined with our proprietary vision processing capabilities, Bionic Vision Technologies offers the potential for much improved acuity – or sight -- than competing products.” Previous small scale studies of the bionic eye have demonstrated no adverse effects. Mr Klupacs commented: “We look forward to launching the next trial of this important and life changing Australian innovation.”
The global market opportunity for a bionic eye technology is estimated to be up to $1B per annum based on disease incidence and potential for quality of life improvement.
For further information please contact:
Robert Klupacs
Executive Chairman
M: +61 418 325 083
Robert.klupacs@bionicvis.com
Emma Power
Monsoon Communications
P: +61 3 9260 3333
M: +61 419 149 525
About Bionic Vision Technologies
Bionic Vision Technologies (BVT) is a privately held Australian company that develops visual prostheses to restore vision to the blind. The devices operate by electrically stimulating the remaining retinal cells in patients with retinal degeneration. The BVT product pipeline consists of two generations of devices which aim to increase mobility and independence of patients and give increasing visual acuity. BVT has distinct and unique advantages over its competitors which it believes will lead to much safer and more effective prostheses. In particular, the novel surgical procedure which uses a natural pocket called the suprachoroidal space is expected to be far superior to surgical methods currently used. World leading vision processing technology also allows BVT to be constantly upgrading the patients’ experience without the need for further surgery.
BVT aims to be the world leader in the development and production of suprachoroidal positioned retinal prostheses for restoring vision to the blind and slowing the progression of retinal degeneration.
BVT products are based on intellectual property that was generated by Bionic Vision Australia (www.bionicvision.org.au). Bionic Vision Australia is a national consortium of researchers from:
• the Bionics Institute
• the Centre for Eye Research Australia
• the National ICT Australia (NICTA)
• the University of Melbourne
• the University of New South Wales.
The National Vision Research Institute, The Royal Victorian Eye and Ear Hospital and the University of Western Sydney are project partners.
BVA is supported by the Australian Research Council through its Special Research Initiative in Bionic Vision Science and Technology.
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• Funds to launch next stage clinical trial Q1 2016
• Novel Australian designed technology
• Bionic eye Australian manufacturing “potentially multi-million dollar market”
• Bionic Vision Technologies to leverage Australia’s advanced manufacturing capabilities
Melbourne, Australia 24 June 2015: Bionic Vision Technologies is in the process of raising $10 million to fund crucial next stage development of its bionic eye technology.
These funds will be used to trial the state-of-the-art cochlear implant-like device on three initial patients from early next year, with up to 20 patients expected to be recruited over the next 18 months.
Patients involved in the trial will all be implanted with Bionic Vision Technologies’ next-generation technology developed at the Bionics Institute, which features 44 electrodes instead of the 24 that were used in a successful pilot trial of the technology at the Centre for Eye Research Australia (CERA) and the Royal Victorian Eye & Ear Hospital (RVEEH) in Melbourne.
This next-generation technology is fully implantable, which means that after an initial testing period of 6-9 months, patients will be able to use the device outside of the clinic for further monitoring in their own homes.
This two-year study will be assessed and measured by a series of specialised tests that have been designed to establish the bionic eye’s impact on mobility and independence.
All clinical trial candidates will be in the advanced stages of debilitating degenerative eye disease known as Retinitis Pigmentosa (RP). RP is the most common cause of inherited blindness and affects around 1.5 million people worldwide.
Also in pre-clinical trials in Bionic Vision Technologies’ Sydney-based operations is the fully-implantable 99 electrode bionic eye which is the result of more than 15 years’ research at the University of New South Wales (UNSW Australia) and has many advanced features that may usher in significant benefits to patients.
This updated technology requires unique and novel manufacturing processes that have been developed in-house by specialist engineers. A state-of-the-art manufacturing facility is in operation at UNSW Australia and is currently producing prototype devices. Scaling to commercial manufacture of this device will require a purpose built Australian manufacturing facility.
Bionic Vision Technologies Executive Chairman Robert Klupacs said that manufacturing the next generation 99 electrode model would harness Australia’s existing world class manufacturing expertise in laser-assisted fabrication, microelectronics design, chip-scale hermetic encapsulation and electrode integration – all skills that have been honed by the UNSW team.
“Australia already has this advanced manufacturing expertise,” he said.
“Indeed, some of the extensive advanced manufacturing skills of Australia have already been deployed to the medical device sector and we will be exploring the possibility of partnering with some of these groups to scale up commercial manufacture of this innovative, all-Australian technology as expeditiously as possible.” Mr Klupacs said manufacturing the bionic eye was a low volume, high margin business “akin to Cochlear”.
Bionic Vision Technologies’ devices are implanted at the back of the eye, into a naturally occurring pocket known as the suprachoroidal space.
A pair of glasses containing a small inbuilt camera is worn by patients. Images are captured by the camera and transmitted to an externally worn vision processing unit.
World leading vision processing technology, developed by the Computer Vision Research Group at National ICT Australia (NICTA), is applied to the data before it is transmitted to the electrode array at the back of the retina. Mr Klupacs added: “We believe our approach is a safer, simpler and faster surgical procedure than that employed by our international competitors. Combined with our proprietary vision processing capabilities, Bionic Vision Technologies offers the potential for much improved acuity – or sight -- than competing products.” Previous small scale studies of the bionic eye have demonstrated no adverse effects. Mr Klupacs commented: “We look forward to launching the next trial of this important and life changing Australian innovation.”
The global market opportunity for a bionic eye technology is estimated to be up to $1B per annum based on disease incidence and potential for quality of life improvement.
For further information please contact:
Robert Klupacs
Executive Chairman
M: +61 418 325 083
Robert.klupacs@bionicvis.com
Emma Power
Monsoon Communications
P: +61 3 9260 3333
M: +61 419 149 525
About Bionic Vision Technologies
Bionic Vision Technologies (BVT) is a privately held Australian company that develops visual prostheses to restore vision to the blind. The devices operate by electrically stimulating the remaining retinal cells in patients with retinal degeneration. The BVT product pipeline consists of two generations of devices which aim to increase mobility and independence of patients and give increasing visual acuity. BVT has distinct and unique advantages over its competitors which it believes will lead to much safer and more effective prostheses. In particular, the novel surgical procedure which uses a natural pocket called the suprachoroidal space is expected to be far superior to surgical methods currently used. World leading vision processing technology also allows BVT to be constantly upgrading the patients’ experience without the need for further surgery.
BVT aims to be the world leader in the development and production of suprachoroidal positioned retinal prostheses for restoring vision to the blind and slowing the progression of retinal degeneration.
BVT products are based on intellectual property that was generated by Bionic Vision Australia (www.bionicvision.org.au). Bionic Vision Australia is a national consortium of researchers from:
• the Bionics Institute
• the Centre for Eye Research Australia
• the National ICT Australia (NICTA)
• the University of Melbourne
• the University of New South Wales.
The National Vision Research Institute, The Royal Victorian Eye and Ear Hospital and the University of Western Sydney are project partners.
BVA is supported by the Australian Research Council through its Special Research Initiative in Bionic Vision Science and Technology.
Help employers find you! Check out all the jobs and post your resume.