Zeiss, Topcon settle trade secret theft lawsuit

Carl Zeiss Meditec said today that it reached a favorable resolution to settle a lawsuit against Topcon subsidiaries regarding trade secrets.

The company’s suit against Topcon’s U.S.-based subsidiaries had been pending in the U.S. federal court for the Northern District of California. Zeiss said the settlement reinforces the protection of its trade secrets and “restores a level playing field for fair competition.”

In the suit, Zeiss asserted that Topcon illicitly obtained stolen company files containing highly confidential information. A court previously issued a preliminary injunction against Topcon. It then denied Topcon’s motion for summary judgment on Zeiss’ trade secret misappropriation claims. If not for the settlement, a jury trial was set to begin this month.

As part of the settlement, Topcon agreed to several concessions. It agreed to pay a substantial, undisclosed financial award ot Zeiss’ U.S. subsidia…

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Iridex, Topcon seal eye care deal

Iridex (NSDQ:IRIX) announced that it entered into a strategic collaboration with Topcon to develop glaucoma therapy products.

Mountain View, Calif.-based Iridex said in a news release that the transaction brings in $19.5 million in cash to the company, providing multiyear funding for strategic growth initiatives, namely those seeking to penetrate the market with Iridex’s non-incisional glaucoma therapy products.

Topcon is set to purchase $10 million of Iridex’s common shares at $6.18 per share.

Additionally, Japan-based Topcon — which brings in $1.3 billion in revenues with $430 million coming from its eye care business — will invest in Iridex by purchasing the exculsive rights to distribute its retina and glaucoma products in certain global markets while also acquiring a common equity stake in approximately 10.4% of Iridex.

Iridex’s product portfolio is set to benfit from Topcon’s distribution capabilities in the Asia Paci…

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Topcon launches Aladdin-M

Topcon Healthcare announced today that it launched its new Aladdin-M instrument for eye care measurements in the U.S.

Aladdin-M is designed to combine corneal topography, pupillometry and optical biometry to enable objective measurement of corneal curvature, pupil dynamics and axial length metrics, according to a news release.

Oakland, N.J.-based Topcon’s system includes software that enables the documentation of axial length measurements to identify risk factors and track changes in Rx and axial length measurements over time to show progression and response to treatment.

The company plans to debut the Aladdin-M device at the Vision Source Exchange On-Demand meeting this week.

“Aladdin-M is ideally suited to help eye care professionals combat the growing crisis of myopia,” Topcon global VP of marketing & product design John Trefethen said in the release. “Its versatility and ease of use allow eye care professionals to easily …

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