Visioneering Technologies Opens Doors in Metro Atlanta
Company to Deliver Revolutionary Optical Products
for People 40 years old and older
Posted: February 11, 2009
ATLANTA – Visioneering Technologies, the first company to focus on a real solution for people with presbyopia, the inability to read or see near objects, will open its doors in metro Atlanta.
Visioneering provides a solution for contact lens wearers, people who have had cataracts or want LASIK to treat their inability to see near and far without glasses. Presbyopia typically impacts people 40 years old and older.
“The market has been seeking a solution for on-eye/in-eye presbyopia for the ages, but currently available products on the market are not adequate for most people,” said Visioneering president and CEO Joe DeLapp, a 20-year veteran of the optical industry. “To date, no product or system has provided the type of vision correction this large body of patients really desires, and the aging demographics of the world’s population are only going to make the problem and Visioneering Technologies solution greater. VTI’s patented technology will be a first.”
Visioneering will start their operations in metro Atlanta with three employees, and is expected to grow to 100 over the next four years.
“Visioneering has selected an ideal location to grow and thrive,” said David Hartnett, vice president of technology development for the Metro Atlanta Chamber. “The advantages of Atlanta combined with the sales and marketing talent in our region guarantee Visioneering will quickly penetrate this new market.”
Our company chose metro Atlanta because of the access to market through Hartsfield-Jackson Atlanta International Airport, the low cost of living and the excellent quality of life, added DeLapp.
Visioneering was founded in 2004 by Dr. Richard A Griffin, an optometrist, optical engineer and aerospace engineer who has spent 20 years developing Visioneering’s optical solution. Dr. Griffin is credited with two issued patents since 2002 that address the need for a treatment for presbyopia in the underdeveloped on-eye/in-eye categories.
The Visioneering team is also comprised of industry veteran Dr. Sally Dillehay, vice president of clinical and regulatory. Other existing Visioneering investors include the Life Science Angels, Palo Alto, Calif., a premier angel investment group focused on biotechnology and medical devices. The company has raised nearly $5 million to date.
Visioneering has closed its Series B round of financing led by MB Venture Partners of Memphis, Tenn. Additional investors included Charter Life Sciences, Palo Alto, Calif., and the state of Georgia through the Advanced Technology Development Center Seed Capital Fund.
“We are very proud to have partnered with Visioneering, a company that has developed disruptive optics designed to address presbyopia, the inability for people typically 40 years of age and older, to read or see near objects,” said Stephen Snowdy, partner at MB Venture Partners.
Fred Schwarzer of Charter Life Sciences added,“About 94 percent of the population has presbyopia by age 45, and for the categories Visioneering’s technology is targeting, there are few good options that allow people to see distance, near and between. These funds will allow Visioneering to demonstrate clinical superiority over the leading marketed multi-focal on-eye lenses, which have seen poor market penetration owing to non-ideal optics.”