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May 24, 2022, 9:02 a.m. EDT

Ocumetics' Lens Technology Delivers 12-Diopters of Accommodation in Bench Tests

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May 24, 2022 (TheNewswire.ca via COMTEX) -- (via TheNewswire)

Calgary, Alberta - TheNewswire - May 24, 2022 - Ocumetics Technology Corp. ("Ocumetics" or the "Company") (TSXV:OTC) is pleased to provide an update on preclinical bench test results of its lens technologies.

In recent bench tests conducted by Ocumetics, the Company's latest accommodating lens design consistently achieved 12 diopters of accommodation, which allows the eye to focus on objects less than 4 inches away.

"These remarkable results are the culmination of over 15 years of research by our founder and Chief Scientific Officer, Dr. Garth Webb," said Dr. Mark Lee, CEO of Ocumetics. "Although the bench results need to be verified in clinical trials, I believe our products have the potential to be transformative in the eye care industry," adds Dr. Lee.

"The lens was designed to produce 12 diopters of accommodation, and it is gratifying to see the prototypes delivering those results in bench tests," said Dr. Garth Webb, the inventor Ocumetics' lens technologies. "Moreover, the clarity of the images produced by the lens itself is everything we had hoped for," adds Dr. Webb.

"If Ocumetics' lens technologies can achieve only half of the bench test accommodation amplitude in human trials, we will be able to offer older adults the opportunity to have near vision like they had when they were teenagers," said Dr. Doyle Stulting, Ocumetics' Chief Medical Officer.

Preclinical studies for Ocumetics' accommodating lens technology are scheduled to be completed in Q3 2022. The first proof-of-concept human studies are expected to begin shortly thereafter, in Q4 2022. Full clinical trials are expected to begin in 2023.

About Ocumetics

Ocumetics Technology Corp. (TSXV:"OTC") is a Canadian research and product development company that specializes in adaptive lens designs. Ocumetics is in the preclinical study stage of a game-changing technology for the ophthalmic industry. Ocumetics has developed an expandable intraocular lens that fits within the natural lens compartment of the eye potentially to eliminate the need for corrective lenses. It is designed to allow the eye's natural muscle activity to shift focus from distance to near.

FOR FURTHER INFORMATION, PLEASE CONTACT:

Dr. Mark Lee

President and CEO

(604) 832-6052

Neither the TSX Venture Exchange nor its Regulation Services Provider (as that term is defined in the policies of the TSX Venture Exchange) accepts responsibility for the adequacy or accuracy of this release.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION: This news release includes certain "forward-looking statements" under applicable Canadian securities legislation. Forward-looking statements include, but are not limited to, statements with respect to the commencement, timing and scope of the clinical trial program outlined above and that it will be conducted as expected. Forward-looking statements are necessarily based upon a number of estimates and assumptions that, while considered reasonable, are subject to known and unknown risks, uncertainties, and other factors which may cause the actual results and future events to differ materially from those expressed or implied by such forward-looking statements. Such factors include but are not limited to: operational matters, historical trends, current conditions and expected future developments, access to financing as well as other considerations that are believed to be appropriate in the circumstances. There can be no assurance that such statements will prove to be accurate, as actual results and future events could differ materially from those anticipated in such statements. Accordingly, readers should not place undue reliance on forward-looking statements. The Corporation disclaims any intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.

Copyright (c) 2022 TheNewswire - All rights reserved.

COMTEX_407687012/2453/2022-05-24T09:02:01

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