Second Sight Medical (Nasdaq:EYES) announced today that it completed its merger with Nano Precision Medical and rebranded.
In February, the two companies entered into a definitive agreement under which Nano Precision Medical (NPM) will merge with a wholly-owned subsidiary of Second Sight in an all-stock transaction, with NPM the surviving company under Second Sight’s ownership.
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An update on the Second Sight Medical Products (NASDAQ:EYES) saga comes to us by way of IEEE Spectrum, offering a cautionary tale for the developers of cutting-edge implants and the patients who place their faith in them.
The future remains cloudy for the Los Angeles–based developer of the Argus 2s retinal prosthesis system, which is attempting its second merger after an earlier deal fell apart in 2021.
Though it won FDA approval last year for its bionic system to restore some level of vision for blind people, the company laid off most of its employees in the early months of the COVID-19 pandemic. Those workers included support staff for the patients who needed updates, repairs and other support for their implants, some of which went dark.
IEEE Spectrum spoke with those patients about learning they could once again lose one of their senses, the exact moments that their devices stopped working and whether they would do it over again.
For medical de…