BUSINESS Mojo Vision and Menicon to Jointly Develop Smart Contact Lens Products By Staff Wednesday, December 9, 2020 12:24 AM SARATOGA, Calif.—Mojo Vision, a wearable technology company based here, and Menicon, Japan’s first and largest contact lens manufacturer, today announced that both companies have entered into a joint development agreement. Mojo Vision is developing Mojo Lens, the first true smart contact lens. Menicon is dedicated to all areas of contact lens-related business, including material development, lens designing, manufacturing of lenses and care solutions. Through the agreement, Mojo and Menicon will conduct a series of feasibility studies that tap the expertise of each company—applying Menicon's decades of experience in rigid gas permeable lens R&D and manufacturing to Mojo's smart contact lens microelectronics, systems integration and consumer products innovation.Areas of collaboration will center around contact lens materials, cleaning, and fitting, among other topics. If the feasibility studies prove successful, Mojo and Menicon may consider a more extensive working relationship in the future.“Our development agreement with Menicon is a significant step forward for Mojo and Mojo Lens,” said Drew Perkins, CEO and co-founder of Mojo Vision. “While we continue making progress in developing our smart contact lens technology, our collaboration with Menicon will provide us valuable insights that can accelerate our progress. Menicon’s team of seasoned professionals will bring significant contact lens research and development expertise to Mojo. We look forward to a long, productive working relationship.”Dr. Hidenari Tanaka, president of Menicon, remarked, “This agreement with Mojo is a key step forward in our expansion of Menicon’s technology initiatives. Menicon has been a pioneer in contact lenses for 70 years and we constantly strive to improve the quality of life of contact lens wearers worldwide. Mojo is an innovative company with a technology platform and a vision for the future of contact lens wear that aligns with Menicon’s aspirations. We believe that both companies can bring together skill sets and technologies that will support the successful development of a truly breakthrough product.”Mojo Vision is currently developing the world’s first augmented reality (AR) smart contact lens, called Mojo Lens, backed by years of scientific research and numerous patents on the technology. Mojo Lens overlays images, symbols and text on users’ natural field of vision without obstructing their view, restricting mobility or hindering social interactions.It incorporates a number of breakthroughs and proprietary technologies, including the smallest and densest dynamic display ever made, an ultra power-efficient image sensor built for computer vision, a high-bandwidth, low-power wireless radio, and motion sensors for exceptionally precise eye-tracking and image stabilization.Mojo Lens is still in the research and development phase and is not available for sale anywhere in the world.Mojo Vision is actively working with the U.S. Food and Drug Administration (FDA) through its Breakthrough Devices Program, a voluntary program designed to provide safe and timely access to medical devices that can help treat irreversibly debilitating diseases or conditions. In May, 2020 VMAIL reported that Mojo had raised more than $51 million in a Series B-1 investment round, to propel the development of Mojo Lens, taking the company’s total funding over $159 million to date.