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Ocumetics' lens technology delivers 14-diopters of accommodation in bench studies

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Aug 29, 2022 (TheNewswire.ca via COMTEX) -- (via TheNewswire)

Calgary, Alberta - TheNewswire - August 29, 2022. Ocumetics Technology Corp. ("Ocumetics") /zigman2/quotes/204542734/delayed CA:OTC -1.22% (fra:2QBO) is pleased to provide an update to its lens optimization efforts.

"Achieving 14-diopters of accommodation in our most recent bench tests is beyond our expectations," said Dr. Mark Lee, CEO of Ocumetics. "This is a remarkable achievement, that should allow an individual to focus on objects less than 10 cm (about 4 inches) away from his or her eye without corrective lenses."

According to Dr. Garth Webb, the inventor of Ocumetics' lens technologies, "We have made significant improvements to our lens and retainer design over the past 12 weeks and were able to achieve up to 14-diopters in accommodation in our recent bench study. This is a significant breakthrough for Ocumetics given that a normal 30-year-old adult can only accommodate 4-8 diopters and can easily see near objects. We are not aware that any other company in the world has been able to achieve anything close to this incredible result," adds Dr. Webb.

In addition, Ocumetics has worked to optimize the delivery system for injecting Ocumetics' lens technology into the eye.

"If Ocumetics can achieve a fraction of the bench test accommodation amplitude in our upcoming human trials, we would be able to offer older adults the opportunity to have near vision like they had when they were much younger," said Dr. Doyle Stulting, Ocumetics' Chief Medical Officer.

"As a technology innovation company, our strength is our ability to achieve ongoing improvements of our lens technologies in a very short timeframe," said Ocumetics CEO, Dr. Mark Lee. "Our continuing efforts to optimize our lens technology and insertion procedures, should make the process much easier for the surgeons, while making the visual experience exceptional for the patient."

Preclinical trials for Ocumetics lens technologies are anticipated to be completed in Q4 2022, which would allow the first human studies to begin in Q1 2023. Full clinical trials are expected to start immediately thereafter in the summer of 2023.

Ocumetics Technology Corp. (TSXV:"OTC") (fra:2QBO) 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 to very 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_413332866/2453/2022-08-29T16:06:06

Is there a problem with this press release? Contact the source provider Comtex at editorial@comtex.com. You can also contact MarketWatch Customer Service via our Customer Center.

/zigman2/quotes/204542734/delayed
CA : Canada: TSX Venture
$ 0.41
-0.0050 -1.22%
Volume: 16,283
Dec. 5, 2022 3:59p
P/E Ratio
N/A
Dividend Yield
N/A
Market Cap
$13.96 million
Rev. per Employee
N/A
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