6/28/2006 2:00:41 PM
A compay with a history of failed commercial projects is entering a new field. Implantable Vision Inc. (OTCBB: IMVSE) on Monday said it was close to a deal to acquire patents and intellectual property for $1 million from Ciba Vision Inc. regarding an inside-the-eye contact lens. The company said it expected to complete the deal within a week. Under the agreement between the two companies, according to the SEC filing, Ciba will retain a royalty of 78.5 percent on sales of the product for two years, 7 percent for three years after that, and then 5 percent after that.
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