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Essilor Receives FDA “Breakthrough Device” Designation for Essilor Stellest

Essilor announced that the U.S. Food and Drug Administration (FDA) has granted “Breakthrough Device” designation to its Essilor Stellest™ spectacle lens, the Company’s new lens developed to correct myopia and slow down the progression of myopia in children.

What does “Breakthrough Device” Designation Mean?
The designation of the Essilor’s Stellest spectacle lens as a “Breakthrough Device” by the FDA, that will lead to further U.S. research and FDA review, builds on the publication of two-year results of an ongoing three-year clinical trial, in China.

Breakthrough Device designation allows companies to benefit from additional FDA input as they work to validate the safety and efficacy of their devices during pre-market development and during the submission process. The status is voluntarily applied for by the company.

Once filed, the review may be expedited. The designation does not allow the device to be marketing (in the US). Marketing activities still require approval or conditional approval before doing so.

“The “Breakthrough Device” designation for our Essilor Stellest lens is a great achievement and an illustration of its potential in slowing down the progression of myopia in children. This designation represents an important milestone in our fight against the myopia pandemic. We look forward to working closely with the FDA for further clinical study and review, so we can provide the benefit of Essilor Stellest to U.S. children who continue to be at risk of vision-threatening complications due to high myopia.” commented Norbert Gorny, Chief Operating Officer and Chief Research & Development Officer of Essilor International.

Clinical Study Update & Global Rollout
After the first year, the trial results reported by the company demonstrated that the eye growth of 9 out of 10 children wearing the Essilor Stellest lens was similar or slower than non-myopic children.

According to the company, the lens has been successfully launched in China followed by other countries since 2020. Essilor intends to further roll out Stellest in other countries.

Launch date for Canada was unavailable at publication date.

Click HERE for the full press release.

The WCO and GMAC Support the Brien Holden Vision Institute Myopia Awareness Week

The World Council of Optometry (WCO) and Global Myopia Awareness Coalition (GMAC) announce their support of the Brien Holden Vision Institute (BHVI) Myopia Awareness Week, May 24-28, 2021. This global initiative is aimed to bring attention to the growing epidemic of myopia in children across the world.

“Myopia is arguably the most widespread epidemic faced by the global optometry community and we must increase our efforts to combat this public health issue,” said WCO President, Paul Folkesson.

Myopia is projected to affect the vision of approximately five billion people globally by 2050, more than doubling today’s numbers. Myopic progression has been linked to sight-threatening conditions later in life such as cataracts, retinal detachment, glaucoma and myopic maculopathy.

“We are calling on eye care professionals to take action!” said GMAC Board of Directors Chair, Dr. Juan Carlos Aragón. “We encourage ECPs to learn about the most up-to-date management methods and communicate these methods to colleagues, other healthcare professionals, myopic children and their parents, and the wider consumer community.”

Click HERE for the full press release.

New Look Vision Reports Strong Results for Q1 of Fiscal 2021

New Look Vision Group reported financial results for the 13 week periods ended March 27, 2021, and provided updates on actions in response to COVID-19, store re-openings, on omnichannel and facility consolidation.

Q1 2021 highlights:

  • Revenues increased by 27.3% compared to the first quarter of last year to reach $86.6 million as a result of comparable store sales, revenues from newly acquired stores and COVID-19 temporary store closures in March 2020 as opposed to essential services exempted lockdown in 2021.
  • Comparable store sales were up 24.5% as a result of enhanced store operating procedures and a shift in customer behavior.
  • Adjusted EBITDA attributed to shareholders reached $17.1 million, a 72.2% increase over the first quarter of last year.
  • Net debt was $169.1 million compared to $175.5 million as of Q1 2020.
  • The Company actively continued to pursue its significant pipeline of acquisition opportunities in Canada and the United States and acquired 6 stores in the quarter.

Antoine Amiel, the President and CEO of New Look Vision, stated that: “New Look Vision carried forward its momentum from the second half of 2020 into 2021 with comparable sales growth rising to 24.5% despite the extended COVID-19 restrictions during the quarter. We continued consolidating the fragmented Canadian retail optical market, with six stores acquired since the beginning of the year.”

COVID-19 and Store re-opening

During Q1 2021, the Company faced renewed COVID-19 regional restrictions in the market in which it operates despite the Company posted another strong quarter in spite of the ongoing impact of COVID-19. In advance of reopening its stores, the Company issued stringent health and safety procedures, undertook extensive training in the form of in-store rehearsals and is providing each location with prescribed personal protection equipment.

Arrangement Agreement to be Acquired

On March 18, 2021, the Company announced that it had entered into an arrangement agreement to be acquired by NL1 AcquireCo Inc., an entity created by a group composed of funds managed by FFL Partners, LLC, Caisse de dépôt et placement du Québec, and the Dr. H. Doug Barnes Family.

Click HERE for the full press release.

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Morel Presents the Arsene

Morel Arsene

A modern reinterpretation of a historical code. This ephemeral frame took only one single piece to build the bridge and arm pads. Arsene features added detailing of an “M” engraved along the rim, a stainless wire temple with end tips and nose pads covered in thermotube material for comfort. All together making this eyewear truly irresistible.

Distributed by Morel Canada: morel-france.com

ZEISS Shares Sustainability Report in Recognition of Earth Day

In recognition of Earth Day and ZEISS’ commitment to corporate social responsibility, The Zeiss Group has shared a comprehensive Sustainability Report that exemplifies the company’s mission to reducing their carbon footprint.

An important component in sustainability is the “Green, Safe, Responsible” project offered through ZEISS Vision Care. Globally, more than 250 initiatives have been combined into one program that’s designed to fulfill their responsibility every single day.

At the ZEISS Canadian lab, one of the achievements this past year was reducing their solid waste production compared to previous years. This was achieved by utilizing some local and global projects like: optimized puck shapes and thicknesses, centralized swarf collection systems, improved sorting, and recycling.

“Sustainability is a key component of our corporate pillar which includes green and social responsibility. We take pride in our achievements and will continue making further improvements to reduce our carbon footprint.” said Bryan Rossi, President at Carl Zeiss Vision Canada Inc.

Carl Zeiss AG provided further insight to the company’s goals in this Sustainability report.

Source: ZEISS Vision Care

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