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Second Sight’s Assets to be Auctioned Off

The company announced in late March that it was laying off most of its employees and that it was “winding down operations.”

Omar Ford

June 16, 2020

1 Min Read
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An online public auction of Second Sight Medical Products’ assets will be conducted by GA Global Partners on June 25.

The Sylmar, CA-based company develops implantable visual prosthetics that are intended to create an artificial form of useful vision for blind individuals. FDA greenlit Second Sight's Argus II retinal prosthesis system in 2013.

The auction will feature Second Sight's medical device manufacturing equipment, laboratory assets, and office furniture located in Sylmar, CA. Items available include laser systems, oscilloscopes, spectrum analyzers, scientific microscopes, laboratory refrigerators and freezers, ultrasonic cleaners, vacuum pumps, probe systems, computers, office equipment, and more.

"This is a unique opportunity for technology firms, medical device manufacturing companies, research and development facilities, universities, hospitals and laboratory businesses seeking to acquire name brand, late model, well-maintained manufacturing equipment and lab equipment at a fraction of the cost," Michael Presto, VP of GA Global Partners, said in a release.

In late March, the company announced it would lay off 84 of its 108 employees because of an inability to secure additional funding resulting in the economic shock caused by COVID-19.

However, the company said in late April that it would explore options that include securing additional funding and exploring business alternatives that may include partnering, acquiring, investing in or combining with businesses that may, or may not be in a related industry.

FDA greenlit Second Sight's Argus II retinal prosthesis system in 2013. That same year, MD+DI named the company as one of MedTech’s Winners.

About the Author(s)

Omar Ford

Omar Ford is MD+DI's Editor-in-Chief. You can reach him at [email protected].

 

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