BELLEVUE, Lavis., October 26, 2021 / PRNewswire / – Based on a Letter of Intent (LOI), Innovega Inc. has agreed to enter into a definitive license agreement with one of the world’s leading providers of assistive technology for the visually impaired, including the legally blind. The letter of intent was accompanied by a substantial investment in Innovega.
This partnership should allow Innovega to successfully outsource the manufacturing and distribution of the initial launch of its eMacula® system. This LOI, design and launch collaboration process is consistent with Innovega’s licensing model which the company believes can deliver maximum shareholder value.
Innovega’s counterpart in LOI operates in nearly 100 countries and localizes products in more than 20 languages. The name of the company is confidential at this stage of development.
Innovega has lifted more than $ 15 million in total funding, $ 3.5 million in the current SEC-qualified funding cycle, and accepts investments up to 12 november. For more information, see https://www.seedinvest.com/innovega/.
Innovega Inc. develops elegant, lightweight and portable displays featuring a high resolution panoramic field of view system for medical, consumer and industrial applications. The Company first licenses its technology to $ 74 billion global vision care market with an initial focus on image enhancement for the visually impaired. Its transformative patented platform, eMacula®, combines high-resolution smart glasses and iOptik® contact lenses to deliver wide application in medicine, augmented reality and virtual reality. The Company has been supported by the Defense Advanced Research Projects Agency (DARPA), the National Eye Institute of the National Institutes of Health and the National Science Foundation; and received investments from strategic partners.
Innovega offers securities by way of an offer statement that has been qualified by the Securities and Exchange Commission under Level II of Regulation A. A copy of the final offer circular that forms part of the statement of offer can be obtained from Innovega: https://www.seedinvest.com/innovega/.
Steve willey, CEO
SOURCE Innovega Inc.