Acquisition Will Enhance Bausch + Lomb’s Surgical Portfolio with IC-8 ® Apthera ™ Intraocular Lens
VAUGHAN, Ontario & IRVINE, Calif. — Bausch + Lomb Corporation (NYSE/TSX: BLCO) (“Bausch + Lomb”), a leading global eye health company dedicated to helping people see better to live better, and AcuFocus, Inc. (“AcuFocus”), a privately held ophthalmic medical device organization, today announced that an affiliate of Bausch + Lomb has acquired AcuFocus, pursuant to the merger transaction with the parent company of AcuFocus.
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AcuFocus has delivered breakthrough small aperture intraocular technology to address the diverse unmet needs in vision care, including the IC-8 ® Apthera ™ intraocular lens (IOL), which was approved by the particular U. S. Food and Drug Administration in July 2022 as the first and only small aperture non-toric extended depth of focus (EDOF) IOL for certain cataract patients who have as much as 1 . 5 diopters of corneal astigmatism and wish to tackle presbyopia at the same time. Known as the IC-8 IOL in global markets, this IOL is available in select markets across Europe, as well as within Australia, New Zealand plus Singapore.
Cataracts are a common condition affecting an estimated 94 million individuals globally. 1 In fact, the global premium cataract IOL market is projected to grow at a compounded annual growth rate of approximately 13 percent between 2022 and 2027. 2 In the United States alone, an estimated 24 million people have cataracts, a number that is expected to grow to 50 mil by 2050. 3
Cataracts can only be treated with surgery in which the cloudy natural lens will be removed plus an IOL is implanted. 4 Many patients receive the monofocal IOL at the time of cataract surgery, which may correct for distance vision, but not for presbyopia. Some available presbyopia-correcting IOLs have complex optics that will split, shift or stretch light to provide clear vision at more than one discrete focal point. In contrast, the IC-8 Apthera IOL features proprietary small aperture technology that enables both distance vision correction and near vision correction to mitigate the effects of presbyopia.
“Cataracts are the largest contributor in order to global blindness in adults aged 50 years and older, with more than 15 million individuals, or even approximately 45 percent of the more than 33 mil cases associated with global loss of sight. five We believe that the IC-8 Apthera EDOF IOL will bolster our own surgical portfolio by enhancing our IOL offerings, which is a strategic area of concentrate for Bausch + Lomb, ” said Joseph C. Papa, CEO, Bausch + Lomb. “We will continue to focus on areas of unmet medical need that we think will help drive long-term growth in our core segments, plus importantly, help us achieve our mission of helping people see much better to reside better. ”
“Bausch + Lomb is a legacy name in attention care with a fully integrated portfolio associated with offerings in eye health, ” stated Al Waterhouse, president and CEO, AcuFocus. “With its extensive development footprint plus renowned commercial expertise, we believe Bausch + Lomb is best positioned to educate physicians about the IC-8 Apthera lens, and ultimately, ensure more cataract patients have access to this new IOL. ”
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About the IC-8 Apthera IOL
The IC-8 Apthera IOL is the wavefront-filtering intraocular lens for unilateral implantation in patients who have been diagnosed with bilateral operable cataracts, have as much as 1. 5 diopters of corneal astigmatism in the implanted eyesight and who do not have a history associated with retinal disease and are usually not predisposed to experience retinal disease within the future. This IOL, compared to the monofocal or monofocal toric IOL, provides an extended range of vision from distance through near.
As with any cataract surgery, risks associated with complications exist whether or not the IOL is incorporated. The complications of IOL implantation surgery range from minor side effects (usually temporary) to serious problems. Patients along with a history of previous illnesses or even disorders of the eyes may have a higher risk associated with complications. Patients with a history of retinal disease or those susceptible to retinal disease must not be implanted using the IOL. As with other prolonged depth of focus IOLs, further surgical treatment (such while IOL replacement for a different lens) may be needed after implantation of the particular IOL.
A full list of benefits plus risks associated with the IC-8 Apthera IOL will be available in the Directions For Use and the Patient Information Brochure.
BofA Securities served as exclusive financial advisor to AcuFocus in this particular transaction. Norton Rose Fulbright US LLP served as legal consultant to Bausch + Lomb, and Latham & Watkins LLP offered as legal advisor in order to AcuFocus.
Regarding AcuFocus, Inc.
AcuFocus, Incorporation. delivers discovery small aperture intraocular products to address varied unmet requirements in eye care and help individuals achieve their best personal eyesight. The IC-8 Apthera IOL (known since the IC-8 IOL in worldwide markets) is approved in the particular United States for the treatment of cataracts. The lens received CE mark in 2015 and is available in Australia, Brand new Zealand, Singapore, and select marketplaces across European countries.
About Bausch + Lomb
Bausch + Lomb is usually dedicated to protecting and improving the gift of sight for millions of individuals around the world – from the moment associated with birth via every phase of life. Its comprehensive portfolio of more compared to 400 items includes contact lenses, zoom lens care products, eye care products, ophthalmic pharmaceuticals, over-the-counter products plus ophthalmic surgical devices and instruments. Founded in 1853, Bausch + Lomb offers a significant global research and development, manufacturing plus commercial footprint with more than 12, 000 employees and a presence within nearly 100 countries. Bausch + Lomb is headquartered in Vaughan, Ontario with corporate offices in Bridgewater, New Jersey. With regard to more information, visit www.bausch.com and connect with us on Twitter , LinkedIn , Facebook and Instagram .
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This news release may contain “forward-looking statements” within the meaning associated with Section 27A of the Securities Act of 1933, like amended (the “Securities Act”), Section 21E of the Investments Exchange Act of 1934, as amended (the “Exchange Act”) and “forward-looking information” under Canadian securities laws (collectively, “forward-looking statements”). These forward-looking statements include, yet, but are not limited to, claims regarding AcuFocus’, Bausch + Lomb’s plus their respective management teams’ expectations, hopes, beliefs, intentions and strategies about the particular future. Claims that are not historical facts, which includes statements about the parties’ perspectives and expectations, are forward-looking statements. Forward-looking claims may generally be identified by the use associated with the words “anticipates, ” “hopes, ” “expects, ” “intends, ” “plans, ” “should, ” “could, ” “would, ” “may, ” “believes, ” “estimates, ” “potential, ” “target, ” or even “continue” plus variations or similar expressions, but the absence of these words does not mean that the statement is not forward-looking. These statements are based upon the current expectations and beliefs of management associated with both AcuFocus and Bausch + Lomb and are usually subject to certain risks plus uncertainties that will could cause actual results to differ materially from those described in the forward-looking statements. These risks and uncertainties include, tend to be not restricted to, the dangers and questions discussed in Bausch + Lomb’s particular filings along with the SEC and the particular Canadian Securities Administrators, which usually factors are incorporated herein by reference. Readers are usually cautioned not really to place undue reliance on any of these forward-looking claims. These forward-looking statements speak only as of the date hereof. Neither AcuFocus nor Bausch + Lomb undertakes any obligation to update any of these forward-looking statements to reflect events or circumstances after the date associated with this online press release service or in order to reflect actual outcomes, unless required by law.
National Eye Company. Cataracts . Retrieved Jan. 14, 2023.
Steinmetz, J. D., Bourne, R. R., Briant, P. S., Flaxman, S. L., Taylor, H. R., Jonas, J. B., … & Morse, The. R. F. (2021). Causes of blindness and vision impairment inside 2020 plus trends over 30 years, and prevalence of avoidable blindness in relation to VISION 2020: the Right to Sight: an analysis for the particular Global Burden of Disease Study. The Lancet Global Health, 9(2), e144-e160. https://doi.org/10.1016/S2214-109X(20)30489-7