(PRESS RELEASE) BELLEVUE, WA — Based on a letter of intent (LOI), Innovega Inc. has agreed to pursue a definitive licensing agreement with one of the world’s leading providers of assistive technology to the visually impaired, including the legally blind. The LOI was coupled with a substantial investment in Innovega.
This partnership is expected to enable Innovega to successfully outsource the manufacture and distribution of the initial launch of its eMacula system. This process of LOI, design collaboration, and launch is consistent with Innovega’s licensing model which the company believes can deliver maximum value to shareholders.
Innovega’s counterpart in the LOI operates in almost 100 countries and localizes products in more than 20 languages. The company’s name is confidential at this stage of development.
Innovega has raised more than $15 million in total funding, $3.5 million in the current SEC qualified funding round, and is accepting investments until November 12. For more information, see seedinvest.com/innovega.
