Nearly a decade of research to solve a common eye ailment paid off for Encore Vision in Fort Worth.
The company, founded by Alcon Laboratories veteran Bill Burns, has been acquired by pharmaceutical giant Novartis, the Swiss company that also owns Alcon.
The acquisition comes just as Encore Vision prepares to bring a topical eye treatment to market. Financial details were not disclosed.
The eye drops will be used to treat presbyopia, a condition that most people get as they age that makes it harder for them to focus their eyes. Clinical tests have shown it can improve vision over three months.
Encore Vision is based at TECH Fort Worth, a nonprofit that helps entrepreneurs grow their companies. Encore Vision received the largest single investment, $1.25 million, from the Cowtown Angels, the investors who founded TECH Fort Worth.
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