Second Sight Medical Products Inc (NASDAQ:EYES) announced that is has completed its first successful implants procedure. The three centers currently approved for the procedures under the French national healthcare reimbursement program were the ones to pull off the procedures. The title of the operation was forfeit innovation and it featured retinal pigmentosa implants. The facilities involved are located in Paris, Bordeaux and Strasbourg.
First To Market
Argus II was the first medical device to ever be named the recipient of the forfeit designation. This allows French hospitals to have easy access to the treatment for patients with advanced RP. It offers dedicated support for the patients that are implanted with the Argus devices and also funds the hospitals including the patient fees. 36 patients are in line to start enjoying the benefits of the leading product along with the financial support provided by the French government. The technology is life changing and brings relief to patients that had few other alternatives.
Up until now, the device has been implanted in over 100 people across the globe. Thjis is the first approved prosthesis for the retina. They currently offer the treatment and have centers operating in several countries including Germany, Canada, the US and the UK.
The big potential right now is in France as the government has started to financially support or assist patients. This makes the procedure more widely affordable and creates a larger potential base for users. RP is a disease that is inherited and affects about 167k people around the world. About 24K people are affected by the affliction in France. The product helps to restore vision for the recipients and assist the brain with processing light that travels through the retina. The product can be life-changing for patients making it even more attractive to investors.
The stock exploded to the $11 level but needs to close above $12 to make a serious effort at $16 which is the next level of resistance.