Unilens Extends License Agreement With Bausch +Lomb for Multifocal Technology

LARGO, Fla.— Vision Inc. (OTC Markets Group OTCQB: UVIC) (TSX Venture Exchange: UVI), through it's wholly owned subsidiary Unilens Vision Sciences Inc. announced that the company and Bausch + Lomb have extended the parties' existing licensing agreement.

The amended agreement continues Bausch + Lomb's exclusive worldwide license for Unilens' multifocal technology and grants Bausch + Lomb an exclusive worldwide license to use Unilens' new multifocal technology. Terms of the arrangement were not disclosed; however the parties have agreed that the existing royalty rates will remain in effect and will apply for both technologies.

Bausch + Lomb recently introduced the PureVision2 for Presbyopia in certain European markets. The new addition to the PureVision portfolio incorporates Bausch + Lomb's own innovative lens technology, using certain licensed elements of Unilens' next generation technology, resulting in a new contact lens offering exceptional near, intermediate, and distance vision.

"We are very pleased to have licensed our next generation technology to Bausch + Lomb, an industry leading global health care company," said Michael Pecora , Unilens president and CEO. "The licensing agreements, for the worldwide distribution of our proven technology, allows for us to continue focusing our resources on the development and marketing of new and innovative specialty lens products."

Unilens will continue to develop, manufacture, license, and market contact lenses, including its flagship product the C-Vue Hydravue Multifocal, a disposable silicone hydrogel for monthly replacement, as well as a full line of customized silicone hydrogel lenses under the C-Vue HydraVue brand exclusively to independent eyecare professionals.