Irvine-based medical device maker Viseon Inc. is getting closer to commercializing its first product, which helps doctors better visualize the spine during surgery to that part of the body.
Is a $100 million payday in the cards for the company? Its former parent company sold for about that much late last year, according to regulatory filings.
The Food and Drug Administration in September cleared Viseon’s imaging device, called Voyant, to provide magnification of the spine during minimally invasive spine surgery.
The company expects to begin shipping its Voyant system on a limited basis in the first quarter, with a full-market release planned for the second half of this year.
The company touts its product as an alternative to surgical tools that typically obstruct views of the operating field. Viseon’s tool provides a high-definition live stream of the surgery on a large monitor.
“We are developing visualization technology that enables better outcomes” through a “disposable single-use visualization technology,” Chief Operating Officer Pete Davis told the Business Journal.
Such technology is helpful for scrub nurses to anticipate problems, among other issues, according to the company. The HD view also has led to better patient safety, and provides potential clinical benefits, the company said.
Viseon in 2017 was spun out of Rebound Therapeutics, an Irvine based firm founded in 2015 to make live-streaming products for minimally invasive brain surgeries. Both firms have been headed by Chief Executive Jeff Valko.
Rebound last September was bought by N.J.-based Integra LifeSciences (Nasdaq: IART). Terms of the deal were initially undisclosed, but recent SEC filings show Integra made an upfront payment of $67.1 million for the company, and is committed to pay up to $35 million of contingent development milestones.
Viseon in 2017 received $5 million Series A financing led by HBM-MedFocus of Irvine, Invus Opportunities Fund of New York and affiliates of Wexford Capital LP of Greenwich, Conn.
Viseon’s 3,500-square foot office has 18 employees. The company declined to disclose whether it plans to raise more funds.