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The Buzz Show: Featuring Our Corporate News Recap on “Second Sight Medical Receives FDA Approval for the Argus 2s Retinal Prosthesis System”
Second Sight Medical
(NASDAQ: EYES) Products surged just under 60% in premarket trading after the company announced the U.S. Food and Drug Administration has approved the Argus 2s Retinal Prosthesis System.
The Company expects that the redesigned set of external hardware initially for use in combination with previously implanted Argus II systems for the treatment of retinitis pigmentosa, will be adapted to be the external system for the next generation Orion Visual Cortical Prosthesis System, currently under development.
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Second Sight Medical Products Inc. plans to combine with Pixium Vision SA, a French company, to pursue their common quest to develop bionic vision systems.
The Sylmar company is working on its next-generation vision prosthetic, called the Orion system, which is complementary to a retinal-based system being made by Pixium.
According to Acting Chief Executive Matthew Pfeffer, both companies have been aware of each other for many years and have had interactions in the past. The transaction will secure the future of both companies by reducing overhead costs and creating synergies, he said.
Read the full story in the March 1 issue of the San Fernando Valley Business Journal.