Unique lens design developed by PowerVision utilizes natural accommodating response of the eyes and uses it to transport fluid in the intraocular lens implanted in the capsular bag of the eyes.
Alcon, a division of Novartis and one of the global leaders in eye care recently announced that it has acquired PowerVision, Inc., a US-based privately-held medical device development firm that manufactures fluid-based intraocular lens implants.
According to sources close to the matter, the acquisition is expected to enable Alcon in bringing this innovative lens to a greater expanse of cataract patients across the world. The IOL technology developed by PowerVision will be made commercially available following clinical trials and additional development of the intraocular lens.
Michael Onuscheck, Alcon’s President of Global Business and Innovation has been quoted to say that Alcon is looking forward to fast-tracking the development of PowerVision’s breakthrough accommodating lens technology as apart of its strategy of being a cataract surgery industry leader. He added that its intraocular lens may become the IOL of choice for cataract surgery as it treats cataracts and restoring natural, continuous range of vision in patients who desire spectacle independence.
For the record, unique lens design developed by PowerVision utilizes natural accommodating response of the eyes and uses it to transport fluid in the intraocular lens implanted in the capsular bag of the eyes. This differs from most presbyopia-correcting intraocular lenses as it does not use light distribution between different focal points with a multifocal design. Instead it creates a continuously variable monofocal lens with the use of the natural contraction of the eye muscles. Patients are thus able to actively focus on objects is a manner the youthful eye does using natural crystalline lens.
Barry Cheskin, Co-Founder, CEO and President of PowerVision has been reported to say that PowerVision is excited to join Alcon which has a history of launching new innovation in the field of ophthalmology. He added that PowerVision looks forward to enabling its innovative IOL technology to reach customers and eye care providers in the coming years.
Reports suggest that according to the terms of the deal, Alcon has paid $285 million to PowerVision with commercial milestones payment scheduled to start in 2023.