LONDON – Retinai Medicine AG reported a three-year master agreement with Novartis AG to apply its artificial intelligence (AI) tools in ophthalmology clinical trials. The first project will look at how machine learning can be used to speed up and improve the interpretation of optical coherence tomography (OCT) images of patients with neovascular age-related macular degeneration (AMD).

The Cooper Companies Inc. (Coopercompanies) again beat analyst estimates, posting fiscal fourth-quarter revenue of $682 million – down 3% from the same period the prior year, but ahead of the Street’s forecast of $676 million. Earnings per share (EPS) also topped consensus, at $3.16 vs. $3.09. The company attributed the better-than-expected performance to encouraging recovery trends in both its contact lens and surgical businesses.

Istar Medical SA, which is focused on minimally invasive ophthalmic implants for the treatment of glaucoma patients, revealed positive one-year results from the European STAR-II clinical trial of its micro-invasive glaucoma surgery (MIGS) device, Miniject.

PARIS – Esight Corp. is starting distribution of its newest low-vision assistive technology in France, Germany and the U.K. The latest version of the technology, the Esight 4, was designed to be more versatile and mobile than before, has double the display brightness and has improved the auto-focus function, according to the company.

Some PMA filings manage to scrape by at U.S. FDA advisory hearings, but the application for the Visability device by Refocus Group Inc. was not one of those. The panel voted 15-1 that the benefits of the device for presbyopia did not outweigh the risks, leaving the sponsor with a fundamental question about the viability of a technology that has been under development for more than 20 years.

Visible Genomics has launched a set of noninvasive genetic tests aimed at assessing the overall risk of developing age-related macular degeneration (AMD) or progressing with the disease. AMD is a common condition that affects the part of the eye called the macula. It typically blurs the central vision used in tasks like reading and driving and develops around age 50.

LONDON – Gyroscope Therapeutics Ltd. is poised to move the field of ocular gene therapy on from the treatment of inherited rare diseases to address more common eye conditions, after receiving FDA 510(k) clearance for its Orbit SDS subretinal delivery device.

Alcon AG released second-quarter results Aug. 18, reporting worldwide sales of $1.2 billion. That figure represented a decrease of 36%, or 34% on a constant currency basis, vs. the same period last year as COVID-19 hit all business categories. As Wells Fargo’s Larry Biegelsen noted, the Geneva-based company, which held its call Aug. 19, saw net loss per share coming in worse than expected due to higher selling, general and administrative expenses.

HONG KONG – China’s Arctic Vision (Shanghai) Biotechnology Co. Ltd. has entered an exclusive deal with New York’s Eyenovia Inc. to develop and commercialize ophthalmic formulations that are delivered using the latter’s first-in-class microdosing spray technology. Under the deal, Arctic Vision will commercialize Eyenovia’s Micropine and Microline formulations in Greater China and South Korea in exchange for $45.75 million in upfront payments and additional milestone and royalty payments.

Bausch Health Companies Inc. has long been considering strategic options for its eye health business. But now that it has paid down $8 billion in debt and divested $4 billion in non-core assets, it expects that the time is now right to spin out the eye health business as a separate publicly traded entity.