The deal was completed on Sept. 29.
SAN DIEGO, CA – Guardion Health Sciences Inc., a maker of ocular health technologies and products, has acquired VectorVision Inc.
In the deal, Guardion acquired substantially all the assets of VectorVision, including trademarks, copyrights and other intellectual property, and assumed certain liabilities of VectorVision, according to a press release. In return, Guardion issued 3.05 million shares of its common stock, representing about 11 percent of its issued and outstanding shares immediately following the transaction.
The deal was completed on Sept. 29.
VectorVision is described in the release as “a world leader in standardized vision testing, and the leader in the field of contrast sensitivity, glare disability and ETDRS (Early Treatment Diabetic Retinopathy Study) visual acuity testing with its proprietary CSV-1000 device.”
VectorVision’s testing equipment is used by both eyecare clinicians and ophthalmic researchers. The acquisition “expands Guardion’s technical portfolio and further establishes the Company’s position at the forefront of early detection, intervention and monitoring of a range of eye diseases and conditions,” according to the release.
Dr. David Evans, founding shareholder of VectorVision, is joining Guardion’s board of directors in connection with the deal.
“I am very excited about joining forces with Guardion,” Evans said. “A new age of eye healthcare is upon us, and we now have the availability of novel treatment interventions which can lead to vision recovery in disease states where recovery was previously not possible. The VectorVision technology is the recognized world standard for contrast sensitivity testing, and we expect our technology to play a critical role in helping doctors measure the visual function recovery associated with new interventions that may be developed by Guardion and others, as well as demonstrating to patients the benefits of these interventions.”
Michael Favish, Guardion’s CEO and founder, added, “We believe that the VectorVision acquisition marks just the beginning of the expansion of Guardion’s technology portfolio, and demonstrates our commitment to building the Company into the market leader in ocular health early detection and management.”