Second Sight Announces Expansion of Argus II Availability in Europe

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SYLMAR, Calif.--(BUSINESS WIRE)-- Second Sight Medical Products, Inc. (NASDAQ:EYES) ("Second Sight" or "the Company"), a developer, manufacturer and marketer of implantable visual prosthetics to provide some useful vision to blind patients, today announced the first commercial implants of the Argus® II Retinal Prosthesis System (“Argus II”) have been performed in Austria and Turkey, and the first implant in Spain through a distribution agreement with IMEX has been performed. IMEX is the largest distributor of ophthalmic products in Spain.

In Vienna, Austria, Professor Susanne Binder, Professor and Chairman of the Department of Ophthalmology of the Ludwig Boltzmann Institute for Retinology and Biomicroscopic Laser Surgery, Rudolfstiftung Hospital implanted the device in a 54-year-old patient who was previously completely blind for over 25 years from retinitis pigmentosa (RP). In Austria, there are an estimated 3,100 people living with RP.

In Turkey, the Argus II was implanted in a 44-year-old patient at the Dünyagöz Hospitals Group under the direction of Prof. Dr. Ioannis Pallikaris. It is estimated that of Turkey’s 76 million people, approximately 28,000 people are living with RP.

“We are pleased to see the 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,” said Dr. Robert Greenberg, Chief Executive Officer of Second Sight. “The availability of the Argus II in these additional countries will provide patients with RP the chance to lead more independent lives, which can be life changing for these individuals.”

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.

“Our exclusive distribution agreement with IMEX allows us to provide access to the Argus II to the estimated 17,000 individuals in Spain with RP. We look forward to leveraging IMEX’s unmatched reach within the ophthalmology communities on the Iberian Peninsula to reach individuals with outer retinal degeneration,” added Dr. Robert Greenberg.

RP is an inherited disease that causes degeneration of the photoreceptor cells, which are critical for discerning visual stimuli. Patients with RP initially experience a loss of peripheral vision and the ability to see in dimly lit situations; over time, vision becomes increasingly impaired, leading to an experience of “tunnel vision” before progressing to complete blindness in most cases.

The Argus II implant system, the first approved retinal implant in the world, has been implanted in over 130 individuals worldwide. The system induces visual perception in blind individuals by providing electrical pulses to stimulate the retina’s remaining cells, which is intended to result in a perception of light patterns in the brain. The Argus II has the potential to offer life changing visual capabilities to those with little or no remaining functional vision. The Argus II implant can positively impact a blind person's ability to conduct routine daily activities, such as recognizing shapes or large objects, locating people, identifying the location of doorways, and following lines or edges. Ultimately, this is meant to allow Argus II users to live their daily lives with more confidence.

About the Argus® II Retinal Prosthesis System

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 are intended to stimulate the retina's remaining cells, resulting in the perception of patterns of light in the brain. The patient then learns to interpret these visual patterns, thereby regaining some visual function. The Argus II is the first artificial retina to receive widespread approval, and is offered at approved centers in Austria, Canada, France, Germany, Italy, Netherlands, Saudi Arabia, Spain, Switzerland, Turkey, United Kingdom and the United States.

About Second Sight

Second Sight's mission is to develop, manufacture and market innovative implantable visual prosthetics to enable blind individuals to achieve greater independence. Second Sight has developed and manufactures the Argus® II Retinal Prosthesis System. Enrollment is underway in a trial to test the safety and utility of the Argus II in individuals with Dry Age-Related Macular Degeneration. Second Sight is also developing the Orion™ I Visual Cortical Prosthesis to restore some vision to individuals who are blind due to causes other than preventable or treatable conditions. U.S. Headquarters are in Sylmar, CA, and European Headquarters are in Lausanne, Switzerland. For more information, visit www.secondsight.com.

Safe Harbor

This press release contains forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange and Exchange Act of 1934, as amended, which are intended to be covered by the "safe harbor" created by those sections. All statements in this release that are not based on historical fact are "forward looking statements." These statements may be identified by words such as "estimates," "anticipates," "projects," "plans," or "planned," "seeks," "may," "will," "expects," "intends," "believes," "should" and similar expressions or the negative versions thereof and which also may be identified by their context. All statements that address operating performance or events or developments that Second Sight expects or anticipates will occur in the future are forward-looking statements. While management has based any forward looking statements included in this release on its current expectations, the information on which such expectations were based may change. Forward-looking statements involve inherent risks and uncertainties which could cause actual results to differ materially from those in the forward-looking statements, as a result of various factors including those risks and uncertainties described in the Risk Factors and in Management's Discussion and Analysis of Financial Condition and Results of Operations sections of our Annual Report on Form 10-K as filed on March 17, 2015 and our other reports filed from time to time with the Securities and Exchange Commission. We urge you to consider those risks and uncertainties in evaluating our forward-looking statements. We caution readers not to place undue reliance upon any such forward-looking statements, which speak only as of the date made. Except as otherwise required by the federal securities laws, we disclaim any obligation or undertaking to publicly release any updates or revisions to any forward-looking statement contained herein (or elsewhere) to reflect any change in our expectations with regard thereto or any change in events, conditions or circumstances on which any such statement is based.

For Patient Inquiries:
Argus II hotline:
International: 1 (818) 833-5027
US (toll free): 1 (855) 756-3703
patients@secondsight.com
or
Media Relations:
Pascale Communications, LLC
Allison Potter, +1-412-228-1678
Manager of Professional Relations
allison@pascalecommunications.com
or
Investor Relations:
Individual Investors
MZ North America
Matt Hayden, +1-949-259-4896
Chairman
matt.hayden@mzgroup.us
or
Institutional Investors
In-Site Communications, Inc.
Lisa Wilson, +1-212-452-2793
President
lwilson@insitecony.com

Source: Second Sight Medical Products, Inc.

Released July 15, 2015