Second Sight Announces First Successful Implant Of Model Of Orion I Visual Cortical Prosthesis
SYLMAR, Calif., April 8, 2015 (GLOBE NEWSWIRE) -- Second Sight Medical Products, Inc. (Nasdaq:EYES) (“Second Sight” or “the Company”), a developer, manufacturer and marketer of implantable visual prosthetics to restore functional vision to blind patients, today announced the first successful implant of a mechanical model of the Orion™ I Visual Cortical Prosthesis (“Orion I”) in an animal study.
The first implant was performed as part of a phase I pre-clinical study, which is designed to evaluate fit, form, stability and biocompatibility. This study, which is expected to run through the end of the year, is the first major milestone in the Company’s development of the Orion I. Fully functional prototypes are expected to be completed later this year with active animal implants scheduled to begin by Q1 2016; the first human clinical trials are planned to commence by Q1 2017. Assuming positive initial results in patients and discussions with regulators, an expanded pivotal clinical trial for global market approvals is planned.
“This is a major milestone not only for the Company but, more importantly, those affected by virtually all forms of blindness,” said Robert Greenberg, M.D., Ph.D., President and CEO of Second Sight. “Following the success of Argus II in patients with Retinitis Pigmentosa, we are looking forward to extending the hope of restoring some useful vision to nearly all blind individuals with the Orion I.”
The Orion I technology is based on the FDA-approved Argus® II Retinal Prosthesis System (“Argus II”), but with updates to the electrode neural interface — moving from the retina to the visual cortex. Implanted on the surface of the visual cortex located within the occipital lobe of the brain, Orion will bypass the retina and optic nerve altogether. This potentially offers hope for treating patients with nearly all forms of blindness where the optic nerve or retina is completely damaged, as in glaucoma, diabetic retinopathy, retinal detachments, trauma, infection, and others. The population of legally blind people potentially eligible for the Orion I is about 6 million worldwide.
About Second Sight
Second Sight’s mission is to develop, manufacture and market innovative implantable visual prosthetics to enable blind individuals to achieve greater independence. Second Sight has developed, and manufactures, the Argus® II Retinal Prosthesis intended to provide some useful vision to individuals with outer-retinal degenerations such as Retinitis Pigmentosa (RP). U.S. Headquarters are in Sylmar, CA, and European Headquarters are in Lausanne, Switzerland. For more information, visit www.secondsight.com.
Safe Harbor
This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange and Exchange Act of 1934, as amended, that are intended to be covered by the “safe harbor” created by those sections. All statements in this release that are not based on historical fact are “forward looking statements”. While management has based any forward looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statement involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management’s Discussion and Analysis of Financial Condition and Results of Operations sections of our recently filed registration statement on Form S-1. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.
For Patient Inquiries:
Argus II hotline: 1 (855) 756-3703, or 1 (818) 833-5027, or patients@secondsight.com
CONTACT: Media Relations Contact: Allison Potter Pascale Communications, LLC T: 412-228-1678 E: allison@pascalecommunications.com Investor Relations Contacts: Retail Investors MZ North America Matt Hayden, Chairman T: 949-259-4896 E: matt.hayden@mzgroup.us www.mzgroup.us Institutional Investors In-Site Communications, Inc. Lisa Wilson, President T: 212-452-2793 E: lwilson@insitecony.com
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