Without disclosing the name of the public company, the EP Global Communications (EPGL) which last year acquired 100% stake of ophthalmic IP portfolio said that “one of the world’s leading multi-billion-dollar public companies has made EPGL technology and its patented Elastic Circuit technology as the choice for a proprietary development of a new contact lens prototype to undergo FDA testing as early as next year.” Company said that “this goes beyond a right of first negotiation to now having EPGL technology at the center of a commercial project that addresses a multi-billion-dollar market in the field.”
“We are on target with our strategy and the proof is that major companies are now choosing EPGL tech for actual market commercialisation, not just first rights. Just as the number of our patents has grown, the number of corporate suitors for our technology will grow exponentially,” stated Michael Hayes, President, EP Global Communications.
EPGL is a US-based advanced technology research and development company for both medical devices and consumer electronics devices specialising in microelectronic mechanical systems (MEMS). Last year, it had announced settlement with CooperVision in which it gained full ownership of its pending patents. After getting approval for some of its patent, the company has now announced its first partnership.
In the past, EPGL’s smart contact lens technology has drawn interest from industry heavyweights like Johnson & Johnson and Vision Care among others. In fact, in September 2016, it had an introductory conversation with Apple about the iOS platform for augmented lens development program.
EPGL claimed that it is the only company to publicly show electronic circuitry material in a photo; which has been proven to integrate distortion free into real silicone hydrogel contact lenses and can enhance the experience for AR and VR devices.