In 2013, the global biotechnology sector was valued at $270.5 billion and has increased to $312 billion in 2015 as a growing demand for diagnostics and therapeutics solutions has increased. With ailments like cancer, hepatitis B, etc. becoming more widespread, the industry is growing just as quickly. Analysts concur that the biotechnology industry is working hard to develop treatments for these illnesses.
“We’re in a new product cycle,” Paul Karos, the senior product manager at Minneapolis-based Whitebox Mutual Funds, stated. “And we’re in an environment where there’s new and meaningful science bringing new and better cure rates.”
In addition, more government initiatives as a result of the growing economy are predicted to have a great impact on the biotechnology industry up to 2020 and likely beyond.
NovaVision was actually able to secure $20 million in series C funding years ago; part of a more than $50million, multi-round series of funding. This financing came from a multitude of companies, most notably Johnson & Johnson Development Corporation. This was able to allow the company to expand the availability of their products. In November, Vycor Medical announced that it would be launching its European internet-delivered therapy suite at the 3rd European Conference of NeuroRehabilitation which works to improve vision for those who lost it because of certain conditions. The program was released in German and English, and can now treat new patients globally in those languages from its offices in the US, Germany and the UK.
Adrian Liddell, chairman of Vycor Medical Inc (OTCMKTS:VYCO) and managing director of NovaVision in Germany, stated, “The launch of our Internet-delivered Therapy Suite in Europe enables us to offer the most comprehensive and affordable therapy solution available today to patients and physicians out of our offices in Magdeburg, Germany and Aberdeen, UK. Our scalable Vision Therapy Suite targets a multi-billion dollar market opportunity in Europe, where it can help the large number people who suffer vision related disorders following a stroke or brain injury. We are delighted to be able to launch the European Therapy Suite at this important congress attended by Professors Zihl and Sahraie, who have been instrumental in its development.” The company has stayed true to its expansive efforts, which is also reflective in the stock; over the last few months, VYCO has seen lows of $0.60 and has seen a 131.67% difference with highs of $1.39. As of this morning, VYCO is climbing significantly higher than those previous $0.60 lows, now trading at $0.86, which is testing its 20-Day Moving average.