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.