EssilorLuxottica and CooperCompanies Finalise Joint Venture
EssilorLuxottica and CooperCompanies have announced the finalisation of their joint venture agreement for SightGlass Vision. This collaboration accelerates the commercialisation of novel spectacle lens technologies to expand the myopia management category. SightGlass Vision’s Diffusion Optics Technology 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.1
“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. 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 eye care 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,” Norbert Gorny, co-Chief Operating Officer at EssilorLuxottica, said in a company news release.
“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,” said Dan McBride, Chief Operating Officer and General Counsel at CooperCompanies.
The last several decades have seen a steady rise in the prevalence of myopia worldwide, notably under the effect of lifestyle changes. Today affecting 2.6 billion people globally, it is estimated that nearly 5 billion people—half the world’s population—will be myopic by 2050.2 Myopia is the leading cause of visual impairment in children and, over time, may contribute to an increased risk of developing permanent vision impairment, including macular degeneration, retinal detachment, cataract and glaucoma, and blindness associated with high myopia.3
1 Spectacles with SightGlass Vision Diffusion Optics Technology™ are not approved for sale within the United States.
2 Holden et al. Global Prevalence of myopia and high myopia and temporal trends from 2000 through 2050. Ophthalmology 2016. 123(5):1036-42
3 Tideman JW et al. Association of axial length with risk of uncorrectable visual impairment for Europeans with myopia. JAMA Ophthalmol. 2016;134:1355-1363