Vycor's NovaVision(R) Vision Restoration Therapy Awarded New Patent
31 October 2013 - 11:30PM
Marketwired
Vycor's NovaVision(R) Vision Restoration Therapy Awarded New Patent
Company Re-Engineering VRT(TM) to Allow For Delivery of Therapy
via the Internet
BOCA RATON, FL--(Marketwired - Oct 31, 2013) - Vycor Medical,
Inc. ("Vycor") (OTCBB: VYCO), a medical device company with a suite
of FDA cleared products, announced today it has been granted
Australian patent # 2007277139 for its NovaVision® vision
restoration technology. The new patent brings Vycor's total
worldwide patent portfolio to 37 granted and 18 pending.
The issued patent covers visual testing methods that fixate the
user's gaze using an optical illusion that is visible only to the
user's central visual field, while simultaneously presenting
stimulus to the user's peripheral vision. The claimed
invention has broad applicability to both therapy and testing
(campimetry) systems. The patent also covers software for
performing such vision testing and therapy methods.
Vycor's wholly-owned NovaVision subsidiary is the worldwide
leader in the field of vision rehabilitation in the U.S., Europe,
and other global markets. NovaVision develops and markets a
non-invasive, computer-based light stimulation therapy called
Vision Restoration Therapy (VRT™). NovaVision's VRT™ is the only
medical device aimed at the restoration of vision for
neurologically induced vision loss which has FDA 510 (K) clearance
to be marketed in the U.S. The therapy is aimed at those
suffering from vision loss resulting from neurological trauma such
as stroke and traumatic brain injury (TBI).
A video highlighting NovaVision's VRT™ can be accessed at:
http://player.vimeo.com/video/39765566
Vycor recently announced it is actively working on
re-engineering its VRT™ to enable it for direct-to-the-patient
Internet delivery and to streamline a number of business processes
related to the delivery and servicing of patients. Once completed,
NovaVision plans to offer both VRT™ alongside its soon to be
released NeuroEyeCoach™ saccadic training therapy, which together
will create the most robust, affordable, Internet-based visual
therapy solution targeted at neurologically induced vision
loss.
VRT is a patient-specific diagnostic and therapeutic platform
with extensive clinical data supporting its ability to increase a
patient's visual field by an average of 5 degrees -- a significant
improvement since visual functionality largely depends on the
central 10 degrees of one's sight. To date, more than 2,000
patients have been treated with VRT™.
Given available information and the Company's experience to
date, management estimates NovaVision's addressable target market
for both its VRT and NeuroEyeCoach™ saccadic therapies (both stroke
and TBI victims suitable for therapy) in the US and EU to be in
excess of $4 billion, and worldwide the total market potential
exceeds $13 billion.
About Vycor Medical, Inc.
With corporate headquarters in Boca Raton, FL, Vycor Medical,
Inc. ("Vycor") is a publicly traded company (OTCBB: VYCO) dedicated
to providing the medical community with innovative and superior
surgical and therapeutic solutions and has a growing portfolio of
FDA-cleared medical solutions that are changing and improving lives
every day. The Company operates two business units: Vycor Medical
and NovaVision, both of which adopt a minimally or non-invasive
approach. Both technologies have exceptional sales growth
potential, address large potential markets, have the requisite
regulatory approvals and are commercialized and generating
revenue.
Vycor Medical's ViewSite™ Surgical Access Systems (VBAS) is a
suite of clear cylindrical minimally invasive disposable devices
that hold the potential for speedier, safer and more economical
brain surgeries and a quicker patient discharge. VBAS is
designed to optimize neurosurgical site access, reduce patient
risk, accelerate recovery and add tangible value to the
professional medical community. Vycor Medical is ISO 13485:2003
compliant, has FDA 510(K) clearance for VBAS for brain and spine
surgeries and regulatory approvals for brain surgeries in
Australia, Canada, China, Europe, Japan, Korea and Russia. For an
overview of Vycor Medical's VBAS see
http://player.vimeo.com/video/39766887
Vycor's wholly-owned NovaVision develops and provides
science-driven neurostimulation therapy and other medical
technologies that help improve and partially restore sight in
patients with neurological vision impairments. The company's
proprietary Visual Restoration Therapy® (VRT) platform is
clinically supported to improve lost vision resulting from stroke,
traumatic brain injury ("TBI"), or other acquired brain injuries.
VRT is the only FDA 510K cleared medical device in the U.S. aimed
at the restoration of vision for neurologically induced vision loss
and can be prescribed by any ophthalmologist, optometrist,
neurologist or physiatrist. VRT also has CE Marking for the
EU. NovaVision also provides Neuro-Eye Therapy (NeET) in the EU,
aimed at increasing visual sensitivity deep within the field
defect. NovaVision also provides a fully portable and ADA-compliant
Head Mounted Perimeter (HMP™) which aids in the detection and
measurement of visual field deficits. For an overview of NovaVision
see http://player.vimeo.com/video/39765566
For the latest information on the company, including media and
other coverage, and to learn more, please go online at
www.vycormedical.com or www.novavision.com.
Safe Harbor Statement
Information in this document constitute forward-looking
statements or statements which may be deemed or construed to be
forward-looking statements within the meaning of the Private
Securities Litigation Reform Act of 1995. The words "forecast",
"anticipate", "estimate", "project", "intend", "expect", "should",
"believe", and similar expressions are intended to identify
forward-looking statements. These forward-looking statements
involve, and are subject to known and unknown risks, uncertainties
and other factors which could cause Vycor Medical's actual results,
performance (financial or operating) or achievements to differ from
the future results, performance (financial or operating) or
achievements expressed or implied by such forward-looking
statements. The risks, uncertainties and other factors are more
fully discussed in Vycor Medical's filings with the U.S. Securities
and Exchange Commission. All forward-looking statements
attributable to Vycor Medical herein are expressly qualified in
their entirety by the above-mentioned cautionary statement. Vycor
Medical disclaims any obligation to update forward-looking
statements contained in this estimate, except as may be required by
law.
Vycor Medical, Inc Investor Contacts: The Del Mar Consulting
Group, Inc. Robert B. Prag President 858-794-9500 Email Contact or
Alex Partners, LLC Scott Wilfong President 425- 242-0891 Email
Contact
Vycor Medical (QB) (USOTC:VYCO)
Historical Stock Chart
From Jun 2024 to Jul 2024
Vycor Medical (QB) (USOTC:VYCO)
Historical Stock Chart
From Jul 2023 to Jul 2024