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SYDNEY and LAVAL, Quebec—Bausch Health Companies Inc. (NYSE/TSX: BHC) and Bausch + Lomb, its leading global eye health business, along with BHVI, an Australian not-for-profit organization with an international focus on vision research, announced Thursday that an affiliate of Bausch Health has acquired an exclusive license for a myopia control contact lens design developed by BHVI. It marks the second licensing deal this week in the myopia treatment category for Bausch Health and B+L, following a licensing deal with Eyenovia announced on Monday, as VMAIL reported

Bausch + Lomb will pair BHVI's novel contact lens design with its leading contact lens technologies to develop potential contact lens treatments designed to slow the progression of myopia in children, according to the announcement.

Myopia, also known as nearsightedness, is among the most common ocular disorders worldwide and is a leading cause of visual impairment in children.

Bausch + Lomb is focused on finding global solutions to treat myopia, the announcement noted.

"We are excited to leverage cutting-edge contact lens design technology from renowned ophthalmic research organization BHVI with our leading lens technologies so that we can research potential new treatment options for myopia, which continues to become more prevalent around the world," Bausch Health chairman and chief executive Joseph C. Papa said in the announcement.

"As evidenced by both of our new exclusive licenses for different potential treatments for myopia, Bausch + Lomb remains committed to finding new approaches to treating this condition for as long as there is a need."

Added Frank Back, chairman of BHVI, “For decades, BHVI has sought solutions to fulfill the unmet needs in the ophthalmic space by innovating commercially relevant technologies, including those specifically developed to help with myopia control. Bausch + Lomb's long-standing position as a leader and innovator in eye health makes it the ideal choice for a partner, and we look forward to helping improve the vision of people with myopia around the world through their use of this contact lens design.”

BHVI was founded by the late Professor Brien Holden, and its headquarters are located on the campus of its affiliate, the University of New South Wales (Kensington, Sydney, NSW). BHVI designs, translates and evaluates new technologies and enhances existing products. Its development portfolio includes vision correction designs that target myopia, presbyopia, hyperopia and astigmatism.

Earlier this week, Bausch announced that one of its affiliates acquired an exclusive license from Eyenovia in the U.S. and Canada for the development and commercialization of an investigational microdose formulation of atropine ophthalmic solution, which is being investigated for the reduction of pediatric myopia progression, also known as nearsightedness, in children ages 3-12.