Second Sight Medical Products Announces Year Three NIH Funding of Its Orion Study
May 13 2021 - 6:00AM
Business Wire
Grant proceeds support ongoing early
feasibility study of Orion
Second Sight Medical Products, Inc. (NASDAQ: EYES) (the
“Company” or “Second Sight”), a leading developer of implantable
visual prosthetics that are intended to create an artificial form
of useful vision for blind individuals, today announced that the
Company received notice from the National Institutes of Health
(NIH) of the release of year three funding for its Early
Feasibility Clinical Trial of a Visual Cortical Prosthesis (the
Orion Trial), grant UH3NS103442. The NIH released $1.4 million of
the $6.4 million planned five-year grant. The Company uses the
funds primarily to pay UCLA and Baylor College of Medicine to
conduct the Orion Trial. This NIH notice of grant award follows the
reporting by the Company of promising two-year data from the Orion
Trial on May 12, 2021. The funding supports continuation of this
important research and testing of the Orion Visual Cortical
Prosthesis.
About the Orion Visual Cortical Prosthesis System
Leveraging 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 to individuals who are blind
due to a wide range of causes, including glaucoma, diabetic
retinopathy, optic nerve injury or disease, and eye injury. Orion
is intended to convert images captured by a miniature video camera
mounted on glasses into a series of small electrical pulses. The
device is designed to bypass diseased or injured eye anatomy and to
transmit these electrical pulses wirelessly to an array of
electrodes implanted on the surface of the brain’s visual cortex,
where it is intended to provide the perception of patterns of
light. A six-subject early feasibility study of the Orion is
currently underway at the Ronald Reagan UCLA Medical Center in Los
Angeles and the Baylor College of Medicine in Houston. No
peer-reviewed data is available yet for the Orion system.
About Second Sight Medical Products, Inc.
Second Sight Medical Products, Inc. (Nasdaq: EYES) develops
implantable visual prosthetics that are intended to deliver useful
artificial vision to blind individuals. A recognized global leader
in neuromodulation devices for blindness, the Company is committed
to developing new technologies to treat the broadest population of
sight-impaired individuals. The Company’s headquarters are in Los
Angeles, California. More information is available at
secondsight.com.
Safe Harbor
This press release contains certain “forward-looking statements”
within the meaning of the “safe harbor” provisions of the US
Private Securities Litigation Reform Act of 1995. Forward-looking
statements can be identified by words such as: “target,” “believe,”
“expect,” “will,” “may,” “anticipate,” “estimate,” “would,”
“positioned,” “future,” and other similar expressions that predict
or indicate future events or trends or that are not statements of
historical matters. Examples of forward-looking statements include,
among others, 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
assurances of future performance. Instead, they are based only on
Second Sight’s current beliefs, expectations and assumptions.
Because forward-looking statements relate to the future, they are
subject to inherent uncertainties, risks and changes in
circumstances that are difficult to predict and many of which are
outside of our control. Actual results and outcomes may differ
materially from those indicated in the forward-looking statements.
Therefore, you should not rely on any of these forward-looking
statements. Important factors that could cause actual results and
outcomes to differ materially from those indicated in the
forward-looking statements include, among others, the following:
(1) legal claims or proceedings relating to Second Sight’s
termination of the Memorandum of Understanding with Pixium Vision
and costs relating thereto; (2) changes in applicable laws or
regulations; (3) the possibility that Second Sight may be adversely
affected by other economic, business, and/or competitive factors;
(4) the impact of COVID-19 on Second Sight’s business; and (5)
other risks and uncertainties indicated from time to time in Second
Sight’s Form 10-K for the year ended December 31, 2020, including
those under “Risk Factors” therein, and in Second Sight’s other
filings with the SEC. Some of these risks and uncertainties may in
the future be amplified by the COVID-19 outbreak and there may be
additional risks that Second Sight considers immaterial or which
are unknown. A further list and description of risks and
uncertainties can be found in Second Sight’s Annual Report on Form
10-K, filed on March 16, 2021, and as thereafter amended. Any
forward-looking statement made by us in this press release is based
only on information currently available to Second Sight and speaks
only as of the date on which it is made. Second Sight undertakes no
obligation to publicly update any forward-looking statement,
whether 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.
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Investor Relations: Scott Dunbar Investor Relations:
investors@secondsight.com (818) 833-5000
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