EssilorLuxottica Acquires Cellview Imaging to Strengthen Retinal Diagnostics Portfolio

Feb 12, 2025 11:36 CST Updated 11:36

EssilorLuxottica

Eyewear Products Sales, Manufacturer

February 11, 2025EssilorLuxotticaAnnounces Acquisition of Canadian Medical Technology StartupCellview Imaging Inc. (Sailweave Imaging Company). This acquisition aims toCellview's Ultra-Widefield Retinal Imaging Technology, further enhanceEssilorLuxotticaTechnical strength and market layout in the field of ophthalmic care.

The official did not disclose the transaction price, but according to an investigation by Siyu MedTech, there was a reverse takeover transaction in January 2024, with the following information. Therefore,Cellview is worth at least $2.5 million(A very conservative estimate)。

Private Placement Financing:Cellview plans to conduct a private placement financing before completing the reverse acquisition deal, with a minimum total proceeds of $2.5 million. This indicates that Cellview's valuation before the transaction is at least$2.5 million, because private financing usually determines the financing amount based on the company's valuation.
Bridge Loan: Liquid Meta provided to Cellview$1 millionBridge loans. Bridge loans are typically used to support a company's short-term funding needs, and the amount also reflects the company's short-term funding requirements and liquidity situation.
Escrow Account Prepayment：Liquid Meta has also conditionally prepaid Cellview in the trust account.$1 million. This advance payment is typically used to ensure the smooth progress of the transaction, while also reflecting Cellview's importance in the deal.

# AboutCellview

CellviewFocus on innovative diagnostics through retinal imaging.Headquartered in Toronto, Canada, currently, Cellview's products areSales in North America, its ultra-widefield retinal camera is able to capture a larger range of images than most existing technologies, assisting ophthalmologists in diagnosing retinal diseases. Cellview's products have receivedFDA (U.S. Food and Drug Administration) and CE Certification, targeting markets ranging from optical clinics in retail spaces to specialized ophthalmic hospitals, with plans toEuropePromotion in other regions.

Cellview Imaging The flagship product isWRI-1. It is a diagnostic tool used to examine the retina and peripheral areas.WRI-1Aimed at enhancing patient care, developing practices, and seamlessly integrating workflows through its integrated cutting-edge solutions.

▲Image source: Company's official website (same below)

Product Features and Functions

Ultra-wide angle imaging: WRI-1Can capture up to133°Retinal images, or capture up to through automatic two-image stitching200°Retinal images. This provides a more thorough examination of the retina and its periphery.
Image Quality:It can capture high-definition, detailed images of the retina. The device is capable of delving into various layers of the eye, capturing clear and accurate retinal images even through cataracts, small pupils, and other media opacities.
Non-mydriatic:In most cases,WRI-1 High-quality images can be captured without the need for pupil dilation, providing a more comfortable and faster patient experience. Patients can avoid the uncomfortable side effects caused by pupil dilation, such as the inability to drive or wear contact lenses, or the need to carry sunglasses.
Cloud Storage: WRI-1 Provide unlimited cloud storage for images and data.
Remote Function:It provides unlimited remote image viewing and telemedicine capabilities. These advanced telemedicine functions enhance practice efficiency, as well as patient retention and satisfaction.
User-friendly: WRI-1Easy to use and takes up little space.
Full Visible Spectrum:The device can capture true color and infrared imaging.

Product Advantages

Early Disease Detection: WRI-1 Can identify early signs of retinal diseases, which is crucial for timely intervention and treatment.
Comprehensive Examination:It provides a more thorough examination of the retina and periphery.
Patient Comfort：Due toWRI-1Provides low-intensity, patient-friendly flashes, so the test does not cause discomfort or pain to the patient.
Reduce toRoot: Cellview Aiming to reduce the cost of ophthalmic imaging equipment without compromising quality.
Simplified Workflow:It can streamline workflows and improve diagnostic accuracy.

Who Should Undergo Retinal Imaging? Patients with the following conditions are recommended to use WRI-1 for retinal imaging.：

Macular Degeneration
Diabetes
Cancer
Hypertension
Glaucoma

# Executive Evaluation

EssilorLuxotticaChairman and CEO Francesco Milleri and Deputy CEO Paul du Saillant said: "We are delighted to welcomeCellview TeamJoinEssilorLuxottica, and together we will accelerate our strategy in the field of vision health. By integrating another pioneering company with strong expertise in R&D and world-class imaging solutions, we will provide the ophthalmic care community with a comprehensive portfolio of innovative technologies to better meet the growing demands of vision health and early diagnosis of retinal diseases. Despite this, our products and services remain open to all industry participants —EssilorLuxottica"The Cornerstone of Open Business Models — We continue to raise market standards, fully aligned with our exploration in the medical technology field."

# About Essilor

EssilorLuxottica was established in October 2018, formed by the merger of Italy's Luxottica and France's Essilor. It currently owns 150 brands.Covering all categories from eyeglasses to lens technology。

Essilor Group has five major R&D centers worldwide, with over 500 researchers, and so far owns more than 9,500 patents (including those under application). The group (including joint venture partners) has more than 69,000 employees in 70 countries and regions around the world, providing products and services to over 100 countries and regions globally, and serving about 350,000 customers with lenses and lens manufacturing equipment, etc.

In the first nine months of the 2024 fiscal year, the group's revenue increased by 4.9% year-on-year to 19.727 billion euros, with a cumulative 35.16% rise in share price over the past 12 months.