Kyle Anderson: Today, we’re recommending a biotech stock to buy that Money Morning Biotech Investing Specialist Ernie Tremblay says has a “nearly limitless” profit potential.
It’s a medical device company with a revolutionary product that helps restore vision to people suffering from blindness.
You see, medical device companies offer investors some of the best profit opportunities in the biotech market.
“Most medical device companies make their living by staying on the leading edge of innovation, producing some of the coolest gadgets you can imagine,” Tremblay said. “And, even better, they can deliver some of the most impressive gains in the bioscience industry to their shareholders.”
Here’s the revolutionary technology that will drive profits for this biotech stock to buy.
Helping Blind Patients See with the “Bionic Eye”
The biotech company that Tremblay recommends has created the world’s first bionic eye, approved by both the U.S. Food and Drug Administration and the European Union.
Here’s how it works…
“Some types of blindness are caused by damage to cells in the back of the eye called photoreceptors, which come in two types: cones for perceiving visual color images in bright light, and rods, which are not receptive to color, for seeing in dimmer light and for peripheral vision,” Tremblay said.
The bionic eye bypasses damaged eye cells via interplay between a miniature camera, a patient-worn visual processing unit (VPU), and an implant in the eye.
The camera is housed in the patient’s glasses and passes an image to the VPU. The VPU translates it into a set of instructions that are then transmitted, via the camera, to an antenna in the implant.
From there, the implant follows the instructions by sending certain electrical impulses to remaining healthy photoreceptors in the eye. They then pass along the message through the optic nerve to be decoded as an image in the brain.
While the technology alone is astounding, it’s the market this bionic eye targets that makes this biotech stock a buy right now…
The Long-Term Biotech Stock to Buy Now
The device is manufactured and sold by Second Sight Medical Products Inc. (NASDAQ:EYES), and its bionic eye product is called the Argus II.
Right now, the Argus II is used to treat patients with retinitis pigmentosa (RP). Roughly 1.5 million people worldwide suffer from RP.
Another 2 million suffer from wet macular degeneration (WMD). The Argus II doesn’t treat those patients yet, but EYES is working to development a treatment for them.
The cost for one system is about $150,000, excluding surgery and the cost of learning how to use the system.