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EssilorLuxottica and CooperCompanies to Acquire SightGlass Vision
Release time:2021-02-22
Reprint:www.eyecarebusiness.com

abstract:SightGlass Vision

Feb. 4, 2021 — CooperCompanies and EssilorLuxottica have entered into an agreement to create a 50/50 joint venture for the acquisition of SightGlass Vision, a U.S.-based life sciences company focused on developing spectacle lenses to reduce the progression of myopia in children.

Leveraging their expertise and leadership in myopia management, the joint venture will work to accelerate the commercialization of SightGlass Vision spectacle lenses and strengthen go-to-market capabilities in the myopia control category. The companies’ have shared that the SightGlass Vision technology will complement existing solutions, including Essilor’s Stellest lens and CooperVision’s MiSight and Orthokeratology contact lenses.

SightGlass Vision Diffusion Optics Technology lenses employ a mechanism of action that modulates peripheral contrast with no impact to on-axis vision. With this technology, contrast modulation is quantified and controlled, and the amount of contrast reduction is not vergence dependent (i.e., not affected by the fixation distance). According to the company, the device has an excellent safety profile, is visually well-tolerated, and is cosmetically acceptable.

“We have a shared commitment to advancing evidence-based myopia management technologies,” says Thomas Chalberg, Ph.D, founder and CEO of SightGlass. “This groundbreaking collaboration only adds to our confidence about the future of the technology, the potential for the category, and the millions of children whose myopia progression could be slowed.”

The latest research illustrates that myopia currently affects 2.6 billion people worldwide. It is estimated that nearly 5 billion people (or half of the global population) will be myopic by 2050.

In addition, recent research from CooperCompanies’ CooperVision in its Global Myopia Attitudes and Awareness Study indicates that 82% of ECPs worry that their young patients will have significant eye health issues associated with myopia as they grow older, yet more than half say parents don’t understand these future eye health risks. Once risks were explained, 87% of parents were open to learning more about myopia management solutions.

The joint venture will acquire SightGlass Vision from CooperCompanies, and the closing of the acquisition and creation of the joint venture is subject to regulatory approvals and other customary closing conditions. CooperCompanies previously held a minority ownership interest in SightGlass Vision and completed its acquisition of SightGlass Vision in January 2021.

Original Author: EyecareBusiness