July 23, 2017 1:55 AM ET

Healthcare Equipment and Supplies

Company Overview of Second Sight Medical Products, Inc.

Company Overview

Second Sight Medical Products, Inc. develops, manufactures, and markets prosthetic devices to restore functional vision to blind individuals in the United States, Italy, Germany, France, and Canada. The company’s product is the Argus II System, which treats outer retinal degenerations, such as retinitis pigmentosa. The company was formerly known as Second Sight LLC. and changed its name to Second Sight Medical Products, Inc. Second Sight Medical Products, Inc. was founded in 1998 and is headquartered in Sylmar, California.

12744 San Fernando Road

Suite 400

Sylmar, CA 91342

United States

Founded in 1998

110 Employees

Phone:

818-833-5000

Fax:

818-833-5067

Key Executives for Second Sight Medical Products, Inc.

President, CEO & Director
Age: 54
Total Annual Compensation: $480.7K
CFO & Corporate Secretary
Age: 61
Total Annual Compensation: $320.3K
Vice President of European Operations
Age: 45
Total Annual Compensation: $283.7K
Vice President of Manufacturing
Age: 59
Total Annual Compensation: $266.4K
Commercial Vice President for US & Canada
Age: 53
Total Annual Compensation: $235.5K
Compensation as of Fiscal Year 2016.

Second Sight Medical Products, Inc. Key Developments

Second Sight Medical Products Inc. Submits an Application for an Investigational Device Exemption with the United States Food and Drug Administration for Approval to Conduct an Early Feasibility Study of its Orion Cortical Visual Prosthesis System in A Clinical Trial of Up to Five Patients

Second Sight Medical Products, Inc. submitted an application for an Investigational Device Exemption (IDE) with the United States Food and Drug Administration (FDA) for approval to conduct an early feasibility study of its Orion Cortical Visual Prosthesis System in a clinical trial of up to five patients. It is typical for an IDE application to involve several rounds of question and answer interactions with the FDA. Timing of the review and FDA approval process is unpredictable and no assurance can be given as to when the Company will receive an IDE for the planned Orion feasibility study.

Second Sight Medical Products, Inc. Introduces Retinal Prosthesis System in South Korea

Second Sight Medical Products, Inc. has announced market entry into South Korea, implanting two patients with the company's Argus II Retinal Prosthesis System (Argus II) in Seoul. The implants were facilitated by the country's distribution partner, Kisantech Co. Ltd. A second patient in Taiwan also received the company's Argus II. This surgical procedure was facilitated by Orient Europharma Co. Ltd., Second Sight's distribution partner for Taiwan. The two implants in South Korea were performed by Young Hee Yoon, MD, Professor, Department of Ophthalmology, Asan Medical Center, in May 2017 and June 2017 at the Asan Medical Center in Seoul in 54- and 56-year old patients with Retinitis Pigmentosa. The second implant in Taiwan was performed in April 2017 by Dr. Shi-Jen Chen at Taipei Veterans General Hospital in a 55-year old patient with retinal degeneration. As previously announced, the first Argus II in Taiwan was implanted by Dr. Yih-Shiou Hwang at Chang Gung Memorial Hospital in a 40-year old patient with retinal degeneration. Second Sight's Argus II System provides electrical stimulation that bypasses the defunct retinal cells and stimulates remaining viable cells inducing visual perception in individuals with severe to profound Retinitis Pigmentosa. The Argus II works by converting images captured by a miniature video camera mounted on the patient's glasses into a series of small electrical pulses, which are transmitted wirelessly to an array of electrodes implanted on the surface of the retina. These pulses stimulate the retina's remaining cells, intending to result in the perception of patterns of light in the brain. The patient must learn to interpret these visual patterns, having the potential to regain some visual function. The Argus II was the first artificial retina to receive widespread approval, and is offered at approved centers in Canada, France, Germany, Italy, Saudi Arabia, South Korea, Spain, Taiwan, Turkey, UK, and the US.

Second Sight Medical Products, Inc. Announces Resignation of Thomas B. Miller as Chief Financial Officer

On June 20, 2017, Thomas B. Miller, Chief Financial Officer of Second Sight Medical Products, Inc. notified the company that he was submitting his resignation as Chief Financial Officer to pursue other opportunities. Mr. Miller agreed to remain in his current role until the company announced its second quarter results and files the Quarterly Report on Form 10-Q for the period which ends June 30, 2017. Mr. Miller's announced departure did not result from a disagreement with the Company on any matter relating to the company's operations, policies or practices. The company has commenced an executive search to identify a suitable replacement for the role.

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