Alcon announced that it has acquired PowerVision for $285 million plus regulatory and milestone payments starting in 2023.
PowerVision’s lens design utilizes the eye’s natural accommodating response to transport fluid in the IOL. While most presbyopia-correcting IOLs use a multifocal design that distributes light between different focal points, PowerVision’s fluid-based design creates a continuously variable monofocal lens, utilizing the natural contraction of the eye’s muscles. This technology allows the patient to actively focus on objects, just as the natural crystalline lens does in a youthful eye, providing patients with a natural, continuous range of vision.
“If you look at us as a global leader in cataract surgery, there’s a lot of innovations we look at every year. There are just some that are disruptive and truly innovative,” Michael Onuscheck, President of Global Business and Innovation at Alcon, said in an interview with Eyewire News. “We see PowerVision as being one of those companies because of the fact that they’re going after a truly accommodative technology in intraocular lenses.”
“The team at PowerVision has been working on this for a really long time—almost 14 years—and they’ve gone through a number of iterations and we believe that they are at an iteration now where you could move from research into development and clinical trials. It’s the perfect time for Alcon to acquire this asset,” Mr. Onuscheck said.
Commercial availability of PowerVision’s IOL technology will be determined following significant additional development and clinical trials of the IOLs, according to Alcon.
“We want to continue to evolve the product’s design and the development,” Mr. Onuscheck said. “Robust clinical trials need to be run on this technology and our organization is in a position to run those trials. We think we have the competencies to get the most out of this technology for patients and the benefit of patients.”