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- Founded: 1996
- Ceased Operations: 2017
What did ReVision Optics do?
ReVision Optics was a medical device company founded by a group of ophthalmologists and engineers who were working on a new way to correct presbyopia that developed and marketed the Raindrop Near Vision Inlay, a corneal inlay designed to improve near vision in people who have presbyopia, a condition that makes it difficult to see close up as people age. The Raindrop Inlay was the first corneal inlay to be approved by the FDA for the treatment of presbyopia.
ReVision Optics has raised a total of $194.9 million over 7 rounds of funding. ReVision Optics’ investors provide the company with the financial resources and expertise it needs to develop and commercialize its products.
Who started ReVision Optics?
Founders Adrian Koppes and Alok Nigam
Why did ReVision Optics go out of business?
The presbyopia market is a large one, but it is also a very competitive one. ReVision Optics was one of several companies developing new treatments for presbyopia, and it faced stiff competition from established companies like Alcon and Johnson & Johnson. Developing and commercializing a new medical device is a very expensive undertaking.
ReVision Optics was unable to generate enough revenue to sustain its operations. ReVision Optics filed for bankruptcy and ceased operations shortly thereafter. In an announcement on its website, ReVision Optics said that it “made great strides to build a market for the surgical correction of presbyopia,” but that “it is with regret that we have to close our doors.”