EssilorLuxottica and the CooperCompanies have finalised their joint venture agreement for SightGlass Vision.
The collaboration accelerates the commercialisation of novel spectacle lens technologies to expand the myopia management category.
SightGlass Vision’s Diffusion Optics Technology (DOT) incorporates thousands of micro-dots into the lens that softly scatter light to reduce contrast on the retina, which is intended to reduce myopia progression in children. It is due to launch in the UK this summer.
“As a global leader with a 30-year track record in myopia research, we have been developing the myopia management category for more than a decade,” said Norbert Gorny, co-chief operating officer at EssilorLuxottica. “As such, we are thrilled to see our joint venture with CooperCompanies come to life as SightGlass Vision begins to operate and the first products start to reach the market. Together with eyecare professionals, we will be able to grow awareness about existing solutions and improve access to technologies that can help children today and in their future lives.”
Dan McBride, chief operating officer and general counsel at the CooperCompanies, commented: “We are excited to begin this joint venture with EssilorLuxottica to grow the overall myopia management category. Adding spectacle lenses with SightGlass Vision technology to our portfolio of myopia management products translates into better eyesight and brighter lives for countless children.
“SightGlass Vision’s commitment to clinically based performance fits well with CooperVision, which has conducted the world’s longest-running myopia management clinical study and is committed to establishing myopia management as a standard of care for affected children.”