Nearsightedness, or myopia, is exploding around the world. Unless the trend is stopped, 50% of the world’s population will be myopic by the year 2050. Ten percent of these myopes will be at high risk for blinding complications. In the past, children played outdoors for hours, whereas today they spend hours each day on smart phones and other digital display devices (whether indoors or outdoors). Reopia Optics is developing patented eyeglasses that will prevent the myopia pandemic.
Current Status
We have strong patent protection, prototypes for animal studies to be conducted in Singapore, initial interest from strategics, and an exceptional Scientific Advisory Board.
Market
All children at risk for developing myopia.
Problem or Opportunity
The worldwide pandemic of nearsightedness will lead to tremendous expenses and impact on quality of life unless we intervene. Reopia Optics spectacles can safely be worn by young children to prevent the development of myopia.
Solution (product or service)
Spectacles are easier and safer, especially in children from 4-12 years old, than alternatives such as contact lenses or eye drops.
Competitors
There are spectacles, eye drops, and contact lenses. Among spectacles, we have unique, patent protected technology that we anticipate will deliver superior results.
Advantages or differentiators
Reopia’s unique, patented spectacles are the only solution to deliver a powerful signal to the retina that suppresses myopic progression through the novel use of micro-lens arrays in combination with well defined, high contrast patterns, creating a targeted, augmented retinal image.
Finance
Selling Reopia spectacles to patients.
Business model
We will seek a distribution partner likely in the vision care space.
The Convertible Note will convert into equity at the value determined by terms of our first equity round, without discount or cap, but offering interest and a warrant.