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August 02, 2015 5:32 PM ET

Healthcare Equipment and Supplies

Company Overview of Second Sight Medical Products, Inc.

Company Overview

Second Sight Medical Products, Inc. develops, manufactures, and markets implantable prosthetic devices to restore functional vision to blind patients in the United States, Canada, Europe, and Saudi Arabia. It offers Argus II System, an implantable neurostimulation device that uses electrical stimulation of the retina to replace the function of the defunct photo-receptors in retinitis pigmentosa patients. Second Sight Medical Products, Inc. sells its Argus II System to university hospitals, teaching hospitals, medical centers, and ambulatory surgical centers. The company was formerly known as Second Sight LLC. Second Sight Medical Products, Inc. was founded in 1998 and is headquartered in Syl...

12744 San Fernando Road

Building 3

Sylmar, CA 91342

United States

Founded in 1998

121 Employees

Phone:

818-833-5000

Fax:

818-833-5067

Key Executives for Second Sight Medical Products, Inc.

Chief Executive Officer, President and Director
Age: 47
Total Annual Compensation: $377.5K
Chief Financial Officer
Age: 59
Total Annual Compensation: $144.4K
Vice President of European Operations
Age: 43
Total Annual Compensation: $220.6K
Vice President of Clinical and Regulatory Affairs
Age: 45
Total Annual Compensation: $219.5K
Vice President of Manufacturing
Age: 57
Total Annual Compensation: $204.2K
Compensation as of Fiscal Year 2014.

Second Sight Medical Products, Inc. Key Developments

Second Sight Medical Products, Inc. Announces Expansion of Argus II Availability in Europe

Second Sight Medical Products, Inc. announced the first commercial implants of the Argus II Retinal Prosthesis System have been performed in Austria and Turkey, and the first implant in Spain through a distribution agreement with IMEX has been performed. The company expanded availability of the Argus II in Austria and Turkey and look forward to the next steps of working with the respective governments on national reimbursement. The recent implant in Spain, under a distribution agreement with IMEX, was performed by Dr. Carlos Laborda of the Arruzafa Clinic in Cordoba, Spain. To accommodate demand for the Argus II, IMEX plans to increase staffing and provide dedicated clinical support.

Second Sight Medical Products, Inc. Announces Management Changes

On June 19, 2015, Second Sight Medical Products, Inc. and Will McGuire entered into employment agreement pursuant to which the company appointed Mr. McGuire as Chief Executive Officer and President effective no later than August 18, 2015. Mr. McGuire was also appointed to the Board of Directors effective upon his assumption of duties as CEO and President of the company. Mr. McGuire will be responsible for management and control of the business, affairs and properties of the company. Mr. McGuire joins Second Sight from Volcano Corporation, where he was President of Americas Commercial since 2014 and prior to that, Senior Vice President and General Manager of Coronary Imaging, Systems and Program Management since 2013. Prior to joining Volcano, Mr. McGuire served as Vice President and General Manager of Patient Monitoring at Covidien. He previously served as President and Chief Executive Officer of AtheroMed, Inc. Mr. McGuire succeeds Dr. Robert Greenberg, who will become Chairman of the Board of Directors of Second Sight, replacing Alfred Mann, who will assume the role of Chairman Emeritus.

Second Sight Announces Positive Long-Term Results of the Argus II Retinal Prosthesis System

Second Sight Medical Products, Inc. announced positive three year results post-implant of its Argus® II Retinal Prosthesis System (“Argus II”) from a multi-center clinical trial. Three types of visual function tests were performed using computer-run assessments: square localization (that is object detection), direction of motion (that is motion detection) and discrimination of oriented gratings (that is visual acuity). Two types of real-world orientation and mobility (O&M) tests were also performed: a test where subjects were asked to locate and touch a door, as well as a test where subjects were asked to follow a white line on the floor. In the absence of existing validated quality of life tools for this population, a Functional Low-vision Observer Rated Assessment (FLORA) was also performed by independent visual rehabilitation experts at the request of the FDA to assess the impact of the Argus II system on the subjects’ everyday lives, including extensive interviews and tasks performed around the home. Of the 30 subjects tested, 29 remained implanted with functioning Argus II systems at three years post-implant. Results showed that with the Argus II System, improvements in visual function and O&M were maintained out to three years. Up to 89% of subjects performed statistically better with the Argus II system implanted compared with native residual vision in visual function tasks at year three. During the trial, the FLORA also demonstrated that up to 80% of the subjects received benefit from the system when considering both functional vision and patient-reported quality of life, and no subjects were affected negatively. The results of the trial support the long-term safety profile and benefit of the Argus II for individuals who are blind due to retinitis pigmentosa (RP).

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