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Visioneering Technologies wins Chinese patent for its myopia control lens

The characteristics of this lens allows it to be used in two of the largest eye-care markets.

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Asia is a large potential market for the company

Visioneering Technologies Inc (ASX:VTI) has received a patent in China until the year 2036 for the optical designs of its myopia progression control contact lens.

The U.S. based medical device manufacturer has developed its proprietary NaturalVue™ Multifocal 1-day contact lenses.

The characteristics of this lens allows it to be used in two of the largest eye-care markets - adults with presbyopia (age-related difficulty in seeing close objects) and children with myopia.

Visioneering had earlier received patent in Singapore, Taiwan and Australia for its innovative designs used in myopia progression control.

Additionally, Singapore recently allowed the company’s patent that will broadly protect the use of its multi-focal designs in any vision care application, until the year 2036.

Asia is a large potential market for the company’s innovative designs, with nearly 90% of the youth in some Asian countries suffering from progressive myopia and in need of a solution.

NaturalVue lenses were cleared by the FDA in late 2014 for the correction of refractive errors and Visioneering carried out a broader U.S. launch in 2016 and 2017.

Incidentally, the company is aiming to protect its innovations through intellectual property to enable growth and creation of value.

Quick facts: Visioneering Technologies

Price: 0.035 AUD

ASX:VTI
Market: ASX
Market Cap: $33.93 m
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