Novartis (NYSE:NVS) subsidiary Alcon said today that it acquired intraocular lens developer PowerVision for $285 million.
PowerVision is developing fluid-based intraocular lens implants that use the eye’s natural accommodating response to transport fluid in the implanted lens, Fort Worth, Texas-based Alcon said.
The fluid-based lens creates a continuously variable monofocal lens using the natural contractions of the eye’s muscles, Alcon said, allowing a patient to actively focus on objects in a style similar to a young eye’s crystalline lens.
“We’re thrilled to officially join Alcon and its pioneering history of launching new innovation in the field of ophthalmology. We look forward to bringing this innovative IOL technology to eye care providers and customers in the years ahead,” PowerVision prez & CEO Barry Cheskin said in a prepared statement.
Alcon said that the commercial availability of the newly acquired IOL devices will be “determined following significant additional development and clinical trials of the intraocular lens.
The deal includes additional payments tied to regulatory and commercial milestones slated to begin 2023, Alcon said.
“As the industry leader in cataract surgery, we’re eager to accelerate development of this potentially breakthrough accommodating lens technology. By treating cataracts and restoring natural, continuous range of vision, this intraocular lens may be the preferred IOL for cataract surgery patients who desire spectacle independence,” Alcon global business and innovation prez Michael Onuscheck said in a press release.
Last December, Alcon said that it acquired Tear Film Innovations for an undisclosed amount.
