PARC, a Xerox company, announced today an agreement with Alcon, the global leader in eye care, to develop innovative new treatments for eye care.
The agreement includes a licensing arrangement with Alcon to leverage PARC intellectual property for potential new products that are anticipated to enter the market over the next two to four years.
“Vision problems have been steadily increasing due to diseases such as diabetes and other health issues,” said Tolga Kurtoglu, head of Global Research, Xerox. “Using technology we’ve developed at PARC, we’re working with Alcon to develop new eye care solutions that will help millions of people who struggle with various eye conditions.”
Ocular health has a total addressable market of $6 billion, according to industry research.
“Alcon has been working with PARC for more than three years to develop innovative technology that can be used with our vision care products,” said Andy Pawson, president, Global Vision Care Franchise, Alcon. “We’re excited to continue this work and for the opportunity to utilize PARC’s research and development expertise to find new ways to bring an improved experience to patients and consumers around the world.”
PARC’s open innovation approach uses multiple funding sources to advance innovation, which clients leverage to accelerate time to market and ensure a greater probability of success.
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