Iridex, Alcon sign agreement

November 23, 2011

Iridex Corp. has entered into a license and distribution agreement with Alcon. The agreement covers a line of cannula products used in vitrectomy procedures (GreenTip Soft Tip Cannula) and license rights to the associated patented technology.

Mountain View, CA-Iridex Corp. has entered into a license and distribution agreement with Alcon Laboratories (Fort Worth, TX). The agreement covers a line of cannula products used in vitrectomy procedures (GreenTip Soft Tip Cannula) and license rights to the associated patented technology.

As part of the agreement, Alcon will pay $1.5 million in upfront royalties to Iridex, purchase Iridex-branded products for distribution in the United States, 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,” said Dominik Beck, PhD, Iridex president and chief executive officer.

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