Alcon Announces Acquisition of PowerVision, Inc.

Novartis International AG / Alcon Announces Acquisition of PowerVision, Inc. . Processed and transmitted by West Corporation. The issuer is solely responsible for the content of this announcement.

•  Acquisition demonstrates Alcon's commitment to driving growth and innovation in advanced technology intraocular lenses (AT-IOLS) to meet the needs of cataract surgery patients who desire spectacle independence

• US-based PowerVision, Inc. was formed to develop fluid-based accommodating intraocular lenses for cataract surgery patients

Fluid-based intraocular lens utilizes the eye's natural accommodative response to provide near and intermediate vision, in addition to distance vision commonly provided by basic IOLs

Fort Worth, Texas, March 18, 2019 - Alcon, the global leader in eye care and a division of Novartis, announced today that it has acquired PowerVision, Inc., a privately-held, US-based medical device development company focused on creating fluid-based intraocular lens implants.

The acquisition furthers Alcon's commitment to bring this innovative, accommodating lens to cataract patients throughout the world.

Commercial availability of PowerVision's IOL technology will be determined following significant additional development and clinical trials of the intraocular lens.

"As the industry leader in cataract surgery, we're eager to accelerate development of this potentially breakthrough accommodating lens technology," said Michael Onuscheck, President of Global Business and Innovation. "By treating cataracts and restoring natural, continuous range of vision, this intraocular lens may be the preferred IOL for cataract surgery patients who desire spectacle independence."

PowerVision's unique lens design utilizes the eye's natural accommodating response to transport fluid in the intraocular lens which is implanted in the eye's capsular bag. While most presbyopia-correcting intraocular lenses use a multifocal design that distributes light between different focal points, PowerVision's groundbreaking 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.