Visioneering Technologies, Inc. Announces US Patent Office Allows Key Patent for VTI
September 22, 2021 at 10:17 pm EDT
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Visioneering Technologies, Inc. announce that the US Patent and Trademark Office (USPTO) has allowed a key patent that is expected to provide coverage of VTI's unique NaturalVue Multifocal contact lens design until 2036. The USPTO has provided a notification of allowance for a key patent titled "Induced Aperture Lens and Method" which covers design elements of VTI's NaturalVue Multifocal contact lenses until 2036. This patent has already been allowed in Australia, Singapore, and China, and remains pending in Europe. VTI expects the formal granting and issuance of a patent number by the USPTO to be completed by the end of 2021. This recent patent allowance further demonstrates the uniqueness of VTI's optical design, and expands VTI's patent estate covering the design and use of its NaturalVue Multifocal contact lenses. These lenses have a unique design that has been shown to assist patients with presbyopia (age-related loss of near vision) and significantly slow the progression of myopia (short-sightedness) in children. Due to the rapidly increasing prevalence of myopia around the world, and the serious lifetime risks associated with myopia, slowing the year-over-year worsening of myopia early in life has become a rapidly growing area of new product development and commercial interest for the multinational eye care companies and a number of new emerging companies. In real-world clinical settings NaturalVue Multifocal contact lenses have been shown to slow the progression of myopia in children, while providing excellent vision. Last year, VTI announced the granting of another key patent that protects its designs when used for treating myopia progression in children. This patent was also issued in the key markets of China, Singapore, and Australia.
Visioneering Technologies, Inc. is a medical device company. The Company is primarily engaged in the design, manufacture, sale and distribution of a contact lens, the NaturalVue Multifocal 1 Day (NaturalVue MF) contact lens. The Company operates through two segments: North America and Europe / Asia-Pacific. The North America segment includes its operations in the United States and Canada. The Europe/Asia-Pacific segment includes its operations outside of North America. Its flagship product is the NaturalVue (etafilcon A) Multifocal 1 Day Contact Lens for adults with Presbyopia and children with Myopia. The Company sells its contact lenses in the United States, Europe, Australia, New Zealand, Hong Kong, Singapore, Canada and Malaysia. The Company manages the warehousing and distribution of its products through a contract with a third-party logistics provider (the 3PL).