Rusnano subsidiary RusnanoMednvest and U.S. venture fund Domain Associates have joined a consortium investing $55 million in the U.S. firm ReVision Optics, which is developing technologies to treat age-related vision loss, Interfax reported.
The ReVision investment is the fifth joint investment between Rusnano and Domain Associates, under an agreement signed in March 2012, RusnanoMedinvest said in a statement.
The investment consortium includes Canaan Partners, ProQuest Investments and InterWest Partners funds, which, along with Domain Associates, are co-owners in ReVision. RMI and Johnson & Johnson Development Corporation are new investors.
ReVision Optics is at the forefront of efforts to commercialize the technology to treat presbyopia, the loss of near vision that is a natural part of the aging process and afflicts the majority of people over the age of 50.
The investment will be used to conduct clinical research in the U.S. and Russia and for registration of the technology.
A Message from The Moscow Times:
Dear readers,
We are facing unprecedented challenges. Russia's Prosecutor General's Office has designated The Moscow Times as an "undesirable" organization, criminalizing our work and putting our staff at risk of prosecution. This follows our earlier unjust labeling as a "foreign agent."
These actions are direct attempts to silence independent journalism in Russia. The authorities claim our work "discredits the decisions of the Russian leadership." We see things differently: we strive to provide accurate, unbiased reporting on Russia.
We, the journalists of The Moscow Times, refuse to be silenced. But to continue our work, we need your help.
Your support, no matter how small, makes a world of difference. If you can, please support us monthly starting from just $2. It's quick to set up, and every contribution makes a significant impact.
By supporting The Moscow Times, you're defending open, independent journalism in the face of repression. Thank you for standing with us.
Remind me later.