This article was originally published in The Gray Sheet
Novartis subsidiary Ciba Vision acquires an initial 10% equity stake in the ophthalmic product start-up. The move gives Ciba exclusive marketing and distribution rights to Medennium's PRL (phakic refractive lens), an intraocular lens designed for implantation into the posterior chamber of the eye to correct hyperopia and myopia. Phase II trials for the PRL are ongoing in the U.S., with Phase III studies slated to begin in early 2001, Ciba says. A CE mark is expected sometime in 2001
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