STAAR Surgical Announces Strategic Agreement in U.S. with SharpeVision

STAAR Surgical Company (NASDAQ: STAA), a leading developer, manufacturer and marketer of the EVO family of Implantable Collamer® Lenses (EVO ICL™) for myopia, astigmatism and presbyopia, and SharpeVision, a premier ophthalmology group with clinics in Seattle, Chicago and Austin, today announced a strategic agreement to provide EVO ICL lenses as a first choice for patients seeking visual freedom from contact lenses and glasses.

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Dr. Matthew Sharpe, SharpeVision (Photo: Business Wire)

STAAR Surgical and SharpeVision will collaborate on marketing and education activities to elevate awareness of EVO ICL and significantly increase availability of the lenses to all qualified patients in SharpeVision clinics. STAAR Surgical will also provide additional practice development and clinical support. The initial stage of the collaboration includes a target purchase amount of 1,000 ICL units annually, which represents approximately 25% of the group’s refractive procedure volume.

“We are pleased to announce SharpeVision as a new partner under our U.S. Highway 93 go-to-market program initiated in October 2023. Dr. Sharpe is a leading refractive surgeon known for his LASIK clinics who sees the advantage of EVO ICL over laser-based vision correction for his patients and practice alike,” said Tom Frinzi, President and CEO of STAAR Surgical. “Our collaboration will further increase awareness of the patient and practice benefits of EVO ICL, which provides exceptional vision day and night and does not cause dry eye syndrome.”^1,2,3

The EVO ICL lens can permanently correct vision without removing corneal tissue and, if desired, is removable by a doctor for added peace of mind. The lens gives the patient flexibility for the future, while also helping to eliminate the hassles of glasses and contact lenses now.

“As surgeons like me get more time and experience with any technology, our level of comfort and proficiency grows,” shared Matthew Sharpe, MD, founder and surgeon, SharpeVision. “Given the outstanding outcomes, EVO ICL is now my first recommendation for patients seeking refractive vision correction. The EVO procedure solves many of the limitations we see in LASIK and PRK laser vision correction surgery including postoperative ocular surface dryness and corneal weakening/ectasia. I have implanted the EVO ICL lenses in more than 600 eyes over the past two years including those of my own son. My son still talks about the freedom of life without glasses or contact lenses and the superb quality of his new vision.”

Warren Foust, Chief Operating Officer of STAAR Surgical stated, “EVO ICL has demonstrated proven clinical benefits for patients in the U.S. with refractive error -3.0 diopters and above. As U.S. surgeons continue to move down the diopter curve, we believe that for patients -6.0 diopters and above, EVO ICL will increasingly become their preferred choice. We are proud to partner with SharpeVision as they make EVO ICL available to more patients.”

For more information about EVO Implantable Collamer® Lenses, please visit https://evoicl.com.

References

1. EVO/EVO+ ICL DFU and PIB.
2. Martinez-Plazs E, Lopez-Miguel A, Lopez-De La Rosa A, et al. Effect of the EVO+ Visian Phakic Implantable Collamer Lens on Visual Performance and Quality of Vision and Life, Am J Ophthalmol 2021;226: 117–125.
3. Naves, J. Carracedo, G. Cacho-Babillo, I. Diadenosine Nucleotid Measurements as Dry-Eye Score in Patients After LASIK and ICL Surgery. Presented at American Society of Cataract and Refractive Surgery (ASCRS) 2012.

About STAAR Surgical

STAAR, which has been dedicated solely to ophthalmic surgery for over 40 years, designs, develops, manufactures and markets implantable lenses for the eye. These lenses are intended to provide visual freedom for patients, lessening or eliminating the reliance on glasses or contact lenses. All of these lenses are foldable, which permits the surgeon to insert them through a small incision. STAAR’s lens used in refractive surgery is called an Implantable Collamer® Lens or “ICL,” which includes the EVO ICL™ product line. More than 2,500,000 ICLs have been sold to date and STAAR markets these lenses in over 75 countries. To learn more about the ICL go to: EVOICL.com. Headquartered in Lake Forest, CA, the company operates manufacturing and packaging facilities in Aliso Viejo, CA, Monrovia, CA and Nidau, Switzerland. For more information, please visit the Company’s website at www.staar.com.

About SharpeVision

SharpeVision is a premier ophthalmology group that brings the best refractive and cataract surgeons, technologies and correction procedures to our patients, all for the best price. SharpeVision clinics offer EVO ICL, LASIK, PRK and cataract procedures that are designed to address the three vision milestones of adult life – ocular maturity (prescription stability and the opportunity to correct nearsightedness, farsightedness and astigmatism); dysfunctional lens syndrome (presbyopia ages 45-60); and cataract development (ages 60+). SharpeVision’s goal is to restore the ability to see clearly which is an essential part of being the best version of yourself. SharpeVision currently operates clinics in Austin, TX, Chicago, IL and Seattle-Bellevue, WA. To learn more, please visit www.sharpe-vision.com.

Important Safety Information for EVO ICL

The EVO Visian ICL lens is intended to correct/reduce nearsightedness between -3.0 D up to -20.0 D and treat astigmatism from 1.0 D to 4.0 D. If you have nearsightedness within these ranges, EVO Visian ICL surgery may improve your distance vision without eyeglasses or contact lenses. Because the EVO Visian ICL corrects for distance vision, it does not eliminate the need for reading glasses, you may require them at some point, even if you have never worn them before. Since implantation of the EVO Visian ICL is a surgical procedure, before considering EVO Visian ICL surgery you should have a complete eye examination and talk with your eye care professional about EVO Visian ICL surgery, especially the potential benefits, risks, and complications. You should discuss the time needed for healing after surgery. Complications, although rare, may include need for additional surgical procedures, inflammation, loss of cells from the back surface of the cornea, increase in eye pressure, and cataracts. You should NOT have EVO Visian ICL surgery if your doctor determines that 1) the shape of your eye is not appropriate, 2) you do not meet the minimum endothelial cell density for your age at the time of implantation, 3) you have moderate to severe glaucoma, 4) your vision is not stable; or 5) if you are pregnant or nursing.

For additional information with potential benefits, risks and complications please visit evoicl.com.

Safe Harbor

All statements that are not statements of historical fact are forward-looking statements, including statements about any of the following: any financial projections (including sales), plans, strategies, and objectives of management for 2024 and beyond or prospects for achieving such plans, expectations for sales, revenue, margin, expenses or earnings, and any statements of assumptions underlying any of the foregoing, including those relating to financial performance in the upcoming quarter, fiscal year 2024 and beyond. Important factors that could cause actual results to differ materially from those indicated by such forward-looking statements include risks and uncertainties related to global economic conditions, as well as the factors set forth in the Company’s Annual Report on Form 10-K for the year ended December 30, 2022 under the caption “Risk Factors,” which is on file with the Securities and Exchange Commission and available in the “Investor Information” section of the company’s website under the heading “SEC Filings.” We disclaim any intention or obligation to update or revise any financial projections or forward-looking statement due to new information or events. These statements are based on expectations and assumptions as of the date of this press release and are subject to numerous risks and uncertainties, which could cause actual results to differ materially from those described in the forward-looking statements. The risks and uncertainties include the following: global economic conditions; the impact of COVID-19; the discretion of regulatory agencies to approve or reject existing, new or improved products, or to require additional actions before or after approval, or to take enforcement action; international trade disputes and substantial dependence on demand from Asia; and the willingness of surgeons and patients to adopt a new or improved product and procedure.

We intend to use our website as a means of disclosing material non-public information and for complying with our disclosure obligations under Regulation FD. Such disclosures will be included on our website in the ‘Investor Relations’ sections. Accordingly, investors should monitor such portions of our website, in addition to following our press releases, SEC filings and public conference calls and webcasts.

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