Last summer Google announced a deal with the Novartis (NYSE:NVS) Alcon subsidiary to commercialize “smart” contact lenses that can measure blood glucose levels and transmit reports wirelessly. This morning EPGL claimed its patent portfolio covers technology that’s crucial to a number of smart contact lens applications and challenged Google to issue an update on its program by the end of this month.
EPGL said it has “several” pending patents covering energy harvesting, mass manufacturing of integrated electronics, autofocus and smart lens cases. The company said it hasn’t publicly announced “what it believes to be its most potentially valuable patents pending” in the smart lens space, saying it has invented “solutions that will enable microelectronics to be placed into modern silicone hydrogel contact lenses for mass market production, without dramatically changing the current manufacturing process.”
“EPGL is issuing a challenge to Google to update the world on their smart contact lens progress and to announce whether or not they have accomplished the same critical solutions that EPGL has mentioned above. EPGL is challenging Google to make an announcement by August 31, 2015 that it has solved for the critical Silicone Hydrogel mass market production challenges as EPGL has,” the Irvine, Calif.-based company said.
“Google is an incredible company with incredibly talented engineers and executives. We have nothing but respect for them, but we believe our little 6 cent per share company on the OTC market is likely beating a $460 billion giant in this coming revolution. We are also very talented,” added president Michael Hayes. “We’re throwing down this public challenge to see if they have truly accomplished what we have. They splashed the news a year ago now with no updates. We’re doing it to show the investment community that EPGL is extremely undervalued in our opinion.”
EPGL also said it’s looking for investment partners for its smart contact lens program.
“We are actively seeking potential partners in what could become a very significant revenue space in the next several years; the ‘Augmented Reality’ or ‘Bionic Vision’ revolution is beginning,” BioMems subsidiary vice president David Markus said in prepared remarks. “We believe that EPGL will be a major player in this space going forward.”