BOCA RATON, FL -- (Marketwired) -- 10/31/13 -- 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
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