Innovega Launches Reservation Campaign for $15 Million Online Public Offering

BELLEVUE, Wash., March 10, 2021 /PRNewswire/ -- Innovega Inc., a company engaged in developing stylish, lightweight, wearable display technology with a panoramic field of view for virtual and augmented reality (AR/VR), has launched a reservations campaign for its upcoming Series A round with its partner, SeedInvest, a leading equity crowdfunding platform. By reserving shares, investors can indicate interest in investing and be the first to know when the offering is live.

Innovega's eMacula® eyewear is a wearable display system that includes patented disposable soft smart contact lenses and a portfolio of smart glasses. This combination system meets wearers' parallel demands for lightweight, stylish eyewear and access to high-quality media with a high-resolution, panoramic field of view. eMacula provides a synthesis of features that is unavailable in other AR/VR glasses which are typically encumbered by heavy, obtrusive headsets or limited by a narrow or low-resolution display.

The new public offering proceeds will be earmarked to fund several initiatives:  the final phase of FDA clinical trials that are now in progress for smart contact lens market clearance, preparation for the launch for the first application of the system for the visually impaired including legally blind, expansion of Innovega's patent portfolio and development of reference designs for subsequent markets.  The FDA process includes a 510(k) clinical trial for the new lens material and a De Novo submission for use of the contact lens to view a near-eye display. 

Innovega's business model enables established contact lens manufacturers to bring the eMacula system's smart lenses to market and allows multiple manufacturing and distribution partners to commercialize its glasses, configured for many applications or use cases. Its patented portfolio of Enhanced Retina Technologies covers the system of smart contact lenses and glasses, including key sub-systems such as eye tracking, and is protected by 27 filed U.S. patent applications of which 14 are issued.

To learn more about Innovega and its eMacula eyewear system, and the opportunity to reserve shares, please visit https://www.seedinvest.com/innovega/.

About Innovega

Innovega Inc. is developing stylish, lightweight, wearable displays that feature a high-resolution, panoramic-field-of-view system for medical, consumer and industrial application. The Company is licensing its technology into the $74 billion global vision care market with a focus on image enhancement for the visually impaired. Its transformative patented platform, eMacula®, combines eyewear with iOptik® high-resolution smart contact lenses to deliver broad application in medicine, augmented reality and virtual reality. The Company has been supported by the Defense Advanced Research Projects Agency, National Eye Institute of National Institutes of Health and National Science Foundation; and has received investments from strategic partners. The iOptik contact lens is in Phase III FDA clinical trials that will be followed by the FDA De Novo submission.

Disclaimer

Innovega Inc. is accepting reservations for an Offering under Tier II of Regulation A. No money or other consideration is being solicited, and if sent in response, it will not be accepted. No sales of securities will be made or commitment to purchase accepted until qualification of the offering statement by the Securities and Exchange Commission (the "Commission") and approval of any other required government or regulatory agency. A reservation is non-binding and involves no obligation or commitment of any kind. No offer to buy securities can be accepted and no part of the purchase price can be received without an Offering Statement that has been qualified by the Commission. A Preliminary Offering Circular that forms a part of the Offering Statement has been filed with the Commission, a copy of which may be obtained from Innovega: https://www.seedinvest.com/innovega/.

Contact:

Steve Willey

425-516-8175

[email protected]

SOURCE Innovega Inc.