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Iridex, Alcon team to distribute cannula products
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MOUNTAIN VIEW, Calif. — Iridex has signed a license and distribution agreement with Alcon regarding Iridex's GreenTip soft tip cannula products and associated patented technology, according to a press release.
Under the agreement, Iridex initially will collect $1.5 million in royalties from Alcon, the release said. In return, Alcon will purchase Iridex products and distribute them in the United States and also pay continuing royalties to license and manufacture related products for overseas distribution under the Alcon brand name.
"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," Dominik Beck, PhD, Iridex president and CEO, said in the release.
The GreenTip products are designed to allow retina surgeons better views and access of the retina during vitrectomy procedures. Their main benefits are improved protection of the retina from the silicone tip and improved contrast against the retina, according to the release.