Second Sight Medical Products Announces Fourth Year NIH Funding for its Orion Study
LOS ANGELES–(BUSINESS WIRE)–Second Sight Medical Products, Inc. (NASDAQ: EYES) (the “Company” or “Second Sight”), a leading developer of implantable vision prostheses intended to create an artificial form of vision useful for people who are blind today. hui announced that the company has received notice from the National Institutes of Health (“NIH”) regarding the release of fourth-year funding for its early feasibility clinical trial of a visual cortical prosthesis (the “Orion Trial”) , grant 5UH3NS103442. The NIH has released $1.1 million of the $6.4 million grant planned over five years. The company is using the funds primarily to pay UCLA and Baylor College of Medicine to conduct the Orion trial. The funding supports the continuation of this important research and testing of the Orion cortical visual prosthesis.
About the Orion Cortical Visual Prosthesis System
Building on Second Sight’s 20 years of experience in neuromodulation for vision, the Orion Visual Cortical Prosthesis System (Orion) is an implanted cortical stimulation device intended to provide useful artificial vision for people who are blind due to a wide range of causes, including glaucoma, diabetes retinopathy, optic nerve injury or disease, and eye injury. Orion is intended to convert images captured by a miniature goggle-mounted video camera into a series of small electrical pulses. The device is designed to bypass diseased or injured ocular anatomy and transmit these electrical impulses wirelessly to an array of electrodes implanted on the surface of the brain’s visual cortex, where it is intended to provide perception of light patterns. . An initial feasibility study of the Orion is currently underway at Ronald Reagan UCLA Medical Center in Los Angeles and Baylor College of Medicine in Houston. No peer-reviewed data is yet available for the Orion system.
About Second Sight Medical Products, Inc.
Second Sight Medical Products, Inc. (Nasdaq: EYES) develops implantable vision prostheses to provide useful artificial vision to people who are blind. A recognized world leader in neuromodulation devices for blindness, the Company is committed to developing new technologies to treat the broadest population of visually impaired people. The company’s headquarters are located in Los Angeles, California. More information is available at secondsight.com. On February 4, 2022, Second Sight entered into a merger agreement with Nano Precision Medical, Inc. (“NPM”) and, upon approval by Company shareholders, expects to close the merger in August 2022.
This press release contains certain “forward-looking statements” within the meaning of the “safe harbor” provisions of the United States Private Securities Litigation Reform Act of 1995. Forward-looking statements may be identified by words such as: “target”, “believe ‘, ‘expect’, ‘will’, ‘may’, ‘anticipate’, ‘estimate’, ‘would’, ‘positioned’, ‘future’, ‘planned’ and other similar expressions that predict or indicate events or trends or that are not statements of historical matters. Examples of forward-looking statements include, but are not limited to, statements made in this press release regarding the amount of NIH grant proceeds expected to be received. forward-looking statements are neither historical facts nor guarantees of future performance.Instead, they are based solely on Second Sight’s current beliefs, expectations and assumptions. forward-looking statements relate to the future, are subject to inherent uncertainties, risks and changes in circumstances that are difficult to predict and many of which are beyond our control. Actual outcomes and results may differ materially from those indicated in the forward-looking statements. Accordingly, you should not rely on any such forward-looking statements. Important factors that could cause actual results to differ materially from those set forth in the forward-looking statements include, among others, the following: (1) claims or legal proceedings related to Second Sight’s termination of the memorandum of understanding with Pixium Vision and the related costs; (2) changes in applicable laws or regulations; (3) the possibility that Second Sight may be affected by other economic, business and/or competitive factors; (4) the impact of COVID-19 on Second Sight’s business; (5) the possibility that shareholders of the Company will not approve the merger with NPM or that the merger will not be completed for any other reason; and (6) various other risks and uncertainties. Some of these risks and uncertainties may in the future be amplified by the outbreak of COVID-19, including its sub-variants, and there may be additional risks that Second Sight considers immaterial or which are unknown. An additional list and description of risks and uncertainties can be found in Second Sight’s Annual Report on Form 10-K filed March 29, 2022, and the company’s Forms 10-K/A filed May 2, 2022, S-4 filed May 13, 2022, and 10-Q filed May 16, 2022, and as amended thereafter. Any forward-looking statement we make in this press release is based solely on information currently available to Second Sight and speaks only as of the date it is made. Second Sight undertakes no obligation to update publicly any forward-looking statements, written or oral, that may be made from time to time, whether as a result of new information, future developments or otherwise, except as required by law. required.
Additional information and where to find it
This communication concerns, among other things, a proposed business combination of the Company and NPM. The Company filed the registration statement on Form S-4 with the Securities and Exchange Commission (the “SEC”), which included a document that serves as the Company’s prospectus and proxy statement. The SEC declared the registration statement effective on June 24, 2022, and the proxy statement/prospectus was first sent to shareholders of the Company on or about June 29, 2022. The proxy statement/prospectus described above contains important information about the Company, NPM, proposed merger and related matters. This communication does not replace the proxy statement/prospectus described above. Investors and security holders are urged to carefully read the proxy statement/prospectus and all other relevant documents filed by the Company with the SEC, as they contain important information about the merger and related matters. All documents are available free of charge on the SEC’s website (www.sec.gov). You may also obtain these materials by contacting the Company’s Investor Relations Department at firstname.lastname@example.org.
Participants in the solicitation
The Company and its respective directors and officers may be considered participants in any solicitation of proxies in connection with the proposed merger. Information about the directors and officers of the company is available in the company’s annual report on Form 10-K, as amended, for the year ended December 31, 2021. Other information regarding participants in the solicitation of proxies and a description of their direct relationships and indirect interests, through security holdings or otherwise, are contained in the proxy statement/prospectus and all other relevant documents filed with the SEC relating to the proposed merger when they will be available. This document is available free of charge from the Company under the conditions described in the previous paragraph.