The CHF 1.5 million buyout includes Neoptics current and pending patents, trademarks, equipment, inventory, technical and other related documents, Presbia said. Hünenberg, Switzerland-based Neoptics makes the Icolens device, a lens designed to be implanted into the cornea to treat presbyopia.
The deal is slated to be paid out in 3 equal installments that began August 2; the other 2 payments are due Dece. 31, 2017, and Dec. 31, 2018, Dublin-based Presbia said in a regulatory filing.
Interim data from a U.S. pivotal trial of Presbia’s Flexivue microlens, released in May, showed an average gain of 5 lines of uncorrected near visual acuity and 99% maintenance of binocular uncorrected distance vision. The company has said it’s planning for a final PMA module submission in September 2017.
In February 2015, Presbia won FDA clearance to enroll patients in the 2nd stage of the pivotal study, a month after raising less than the $50 million midpoint set for its initial public offering; the 4.2 million-share IPO went off at $10 per share, rather than $11 to $13, for total proceeds of $42 million.
The Presbia lens won CE Mark approval in the European Union in December 2009.