MOUNTAIN VIEW, Calif., Nov. 15, 2011 /PRNewswire/ -- IRIDEX Corporation (Nasdaq: IRIX) announced it has entered into a license and distribution agreement with Alcon, the global leader in eye care, headquartered in Fort Worth, Texas. The agreement covers the IRIDEX GreenTip™ Soft Tip Cannula family of products and license rights to the associated patented technology.
IRIDEX GreenTip Soft Tip Cannula products are used in vitrectomy procedures and allow retina surgeons to effectively visualize and access the proximity of the retina. Benefits include: optimal contrast against the retina, maximized visualization and greater protection of the retina with its unique atraumatic silicone tip.
As part of the agreement, Alcon will pay $1.5 million in upfront royalties to IRIDEX, purchase IRIDEX branded products for distribution in the U.S. and pay an ongoing royalty to license and manufacture related Alcon branded products for distribution overseas.
"An important part of our growth strategy is to develop and identify unique consumable products that bring clinical value to retina surgeons and their patients, and we are very pleased to be working with Alcon in distributing a key product family in that category," commented Dr. Dominik Beck, President & CEO. "Working with Alcon, the market leader in ophthalmology devices, underscores the value of our enhanced visualization cannula products and may lead to additional opportunities for collaboration in the future."
About IRIDEX Corporation
IRIDEX Corporation was founded in 1989 and is a worldwide leader in developing, manufacturing, and marketing innovative and versatile laser-based medical systems and delivery devices. We provide solutions for multiple specialties, including ophthalmology, dermatology and otolaryngology. We maintain a deep commitment to the success of our customers
|SOURCE IRIDEX Corporation|
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