Presbia (NSDQ:LENS) said today its Irish subsidiary closed its approximately $1.5 million acquisition of unspecified assets from Neoptics AG which included its intellectual property portfolio.
The purchase 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 acquisition of Neoptics’ assets, including its patent portfolio, consolidates the principal intellectual property and ‘know-how’ underpinning the use of an optically powered micro-lens for the correction of presbyopia (near-vision loss), a condition affecting 1.8 billion people globally. This consolidation of IP and know-how from Presbia and Neoptics has also created a patent protected platform to deploy our ‘micro-lens’ technology into solutions for vision problems beyond presbyopia, significantly expanding our addressable market into the future,” Presbia CEO Todd Cooper said in a press release.
The deal includes 3 equal payments that began on August 2, with the other 2 payments 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.
The post Presbia closes $2m Neoptics buy appeared first on MassDevice.
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