Sam Brusco, Associate Editor02.08.22
Second Sight Medical Products (Second Sight) has begun an agreement to acquire Nano Precision Medical (NPM) in an all-stock transaction. NPM will merge with a wholly-owned Second Sight subsidiary. The resulting company will develop drug and device implants to treat chronic diseases.
NPM leverages its NanoPortal drug implant to create drugs to address medication non-adherence. The implant delivers minimally fluctuating drug release profiles for small molecules, peptides, and monoclonal antibodies. The company’s NPM-119 program is a GLP-1 receptor agonist to potentially treat patients with diabetes for up to six months in one implant.
NPM co-founder, CEO, and Chairman Adam Mendelsohn, Ph.D. ill lead the combined company.
“The merger with NPM aligns with our expanded vision to become a top device and drug implant company, allows us immediate access to NPM’s experienced executive leadership team, and provides the two companies with a myriad of opportunities to leverage potential synergies.” Mendelsohn told the press. “At NPM we are very excited about the proposed merger with Second Sight, which will enable NPM to accelerate development activities for its internal pipeline and also engage with Second Sight in the continued exploration of their visual prosthesis business opportunity.”
In addition to advancing NPM’s drug implant franchise, Second Sight is developing the Orion visual cortical prosthesis system to bring artificial vision to blind patients. Orion is currently in an early feasibility study.
The companies expect to complete the merger in the second or third quarter of this year.
NPM leverages its NanoPortal drug implant to create drugs to address medication non-adherence. The implant delivers minimally fluctuating drug release profiles for small molecules, peptides, and monoclonal antibodies. The company’s NPM-119 program is a GLP-1 receptor agonist to potentially treat patients with diabetes for up to six months in one implant.
NPM co-founder, CEO, and Chairman Adam Mendelsohn, Ph.D. ill lead the combined company.
“The merger with NPM aligns with our expanded vision to become a top device and drug implant company, allows us immediate access to NPM’s experienced executive leadership team, and provides the two companies with a myriad of opportunities to leverage potential synergies.” Mendelsohn told the press. “At NPM we are very excited about the proposed merger with Second Sight, which will enable NPM to accelerate development activities for its internal pipeline and also engage with Second Sight in the continued exploration of their visual prosthesis business opportunity.”
In addition to advancing NPM’s drug implant franchise, Second Sight is developing the Orion visual cortical prosthesis system to bring artificial vision to blind patients. Orion is currently in an early feasibility study.
The companies expect to complete the merger in the second or third quarter of this year.