Tuesday, Alcon, Inc. (ACL) announced that it has entered into a patent cross-licensing agreement with Advanced Medical Optics, Inc. (EYE) relating to lubricious coatings for intraocular lens, or IOL, insertion devices and a specified one-piece IOL design.
The company noted that the agreement provides Advanced Medical with paid-up, non-exclusive, worldwide licenses under a family of Alcon patents. Advanced Medical will pay Alcon a lump sum of $10 million for the licenses.
The licenses are restricted to single piece IOLs having essentially the same design as Advanced Medical's recently launched TECNIS Model ZCB00 IOL. The licenses assure Advanced Medical of freedom to operate with respect to the subject Alcon patents, relative to the Model ZCB00 IOL lens and any future IOL models having the same design platform, Alcon added.
On the other hand, Alcon will receive paid-up, non-exclusive, worldwide licenses under two families of patents owned by Advanced Medical. Alcon will pay Advanced Medical a lump sum of $31 million for these licenses.
These licenses assure Alcon of freedom to operate with respect to the subject Advanced Medical patents, relative to the coating systems currently utilized in its MONARCH and ACRYSERT brand IOL insertion devices, as well as any future coating systems of a similar type that Alcon may develop.
Alcon is currently trading at $159.18, down $1.15 or 0.72%, while Advanced Medical is trading at $19.47, down $0.47 or 2.36%.
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