Bausch & Lomb Announces Strategic Alliance with AcuFocus For Presbyopic Correction Technology.ROCHESTER, N.Y. -- Bausch & Lomb announced today that it has made an equity investment in - and secured an exclusive option to purchase - AcuFocus, Inc., a privately held company privately held company A firm whose shares are held within a relatively small circle of owners and are not traded publicly. located in Irvine, California that is developing corneal corneal pertaining to the cornea. See also keratitis, keratopathy. corneal anomaly includes microcornea, coloboma, megalocornea, dermoid, congenital opacity. corneal black body see corneal sequestrum (below). inlay inlay /in·lay/ (-la) material laid into a defect in tissue; in dentistry, a filling made outside the tooth to correspond with the cavity form and then cemented into the tooth. in·lay n. 1. technology for the treatment of presbyopia Presbyopia Definition The term presbyopia means "old eye" and is a vision condition involving the loss of the eye's ability to focus on close objects. . The announcement was made at the Hawaiian Eye 2007 Meeting held on Kauai, Hawaii and attended by several hundred ophthalmic surgeons. The AcuFocus ACI ACI American Concrete Institute ACI Arch Coal Inc ACI Airports Council International (formerly Airport Associations Coordinating Council) ACI Automobile Club d'Italia ACI American Competitiveness Initiative 7000[TM] is designed to treat presbyopia, a condition which affects more than 50 million people in the United States. Presbyopia, a part of the normal aging process, reduces the ability of the eye to focus on near objects. Traditionally, most people with presbyopia have had to use reading glasses to improve their near vision. The AcuFocus corneal inlay is designed to treat presbyopia in all patients, including those who have had cataract surgery Cataract Surgery Definition Cataract surgery is a procedure performed to remove a cloudy lens from the eye; usually an intraocular lens is implanted at the same time. Purpose The purpose of cataract surgery is to restore clear vision. , and reduce their dependence on reading glasses. The ACI 7000 corneal inlay is implanted in the cornea cornea: see eye. under a LASIK LASIK laser-assisted in-situ keratomileusis. LA·SIK n. Eye surgery in which the surface of the cornea is reshaped using a laser, performed to correct certain refractive disorders such as myopia. flap in a simple outpatient procedure. The device incorporates technology that increases the patient's depth of field, thereby improving near vision. The ACI 7000 has been designed to maintain normal corneal physiology and corneal health. The procedure does not involve tissue removal nor does it permanently alter the cornea, so pre-implant vision can be restored if the inlay is removed. Recent studies have demonstrated that the ACI 7000 improves near vision in patients who previously didn't require vision correction (emmetropes) as well as those who have had LASIK surgery. Trials are being conducted to study the ACI 7000 in patients with intraocular lenses. "Current surgical presbyopic pres·by·o·pi·a n. Inability of the eye to focus sharply on nearby objects, resulting from loss of elasticity of the crystalline lens with advancing age. solutions involve compromises that can negatively affect the quality of vision for many patients. The ACI 7000 corneal inlay is designed to remove those compromises through a safe and simple procedure," said Daniel S. Durrie, MD., Principal Investigator. "Moreover, pre-clinical studies performed outside of the United States show excellent early results and high patient satisfaction." "We're truly excited to collaborate with AcuFocus on the development and delivery of their leading-edge corneal inlay technology," said Henry Tung, MD, corporate vice president and head of global surgical strategy for Bausch & Lomb. "We believe this pioneering technology has the potential to significantly enhance the alternatives available to the large population of presbyopic patients." "We believe Bausch & Lomb's deep experience in the Eyecare field will enhance our technology significantly," said Ed Peterson, president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of AcuFocus, Inc. "With Bausch & Lomb's investment, we can accelerate and broaden our efforts to bring this exciting technology to refractive refractive capacity to refract light. refractive error a difference between the focal length of the cornea and lens, and the length of the eye, resulting in myopia or hyperopia. surgeons and their patients." Terms of the agreement were not disclosed. This news release contains, among other things, certain statements of a forward-looking nature relating to future events or the future business performance of Bausch & Lomb. Such statements involve a number of risks and uncertainties including those concerning the ability of the Company and the parties with which it contracts to develop and introduce products successfully as well as the risk factors listed from time to time in the Company's SEC filings, including but not limited to filings on Form 8-K and on Form 12b-25, each dated November 9, 2006. About Bausch & Lomb Bausch & Lomb is the eye health company, dedicated to perfecting vision and enhancing life for consumers around the world. Its core businesses include soft and rigid gas permeable contact lenses and lens care products, and ophthalmic surgical and pharmaceutical products. The Bausch & Lomb name is one of the best known and most respected healthcare brands in the world. Founded in 1853, the Company is headquartered in Rochester, New York This article is about the city of Rochester in Monroe County. For the town in Ulster County, see Rochester, Ulster County, New York. Rochester, once known as The Flour City, and more recently as The Flower City or and employs approximately 13,700 people worldwide. Its products are available in more than 100 countries. More information about the Company is on the Bausch & Lomb Web site at www.bausch.com. Copyright Bausch & Lomb Incorporated. About AcuFocus, Inc. Founded in 2001, AcuFocus has been developing the ACI 7000 and evaluating its safety and efficacy in clinical trials. AcuFocus was spun out of the Innovation Factory in Duluth, Georgia, in 2002, and has been funded by a group of venture firms including Versant, Schroeder, Carlyle Group, Accuitive Medical and Pequot. The company has raised $37.7 million in Series A, B, B1 and C rounds of financing to develop and refine the device. |
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