Vivakor, Inc. (OTCBB: VIVK) announced that the National Institutes of Health-National Eye Institute has awarded a grant to Vivakor, Inc. in Coralville, IA through the Small Business Innovation Research Awards.
Vivakor will use the grant, which was also acknowledged by the Senior United States Senator from Iowa Senator Chuck Grassley, to help fund a vision research project entitled, “Development of a digital photo-refractor (DPR) to detect amblyogenic risk factors.” The Small Business Innovation Research Awards - Phase I help establish the technical merit and feasibility of proposed research and development efforts that may ultimately lead to a commercial product or service.
Vivakor’s VivaSight is a digital photo-refractor device that will modernize screening of children for ocular disorders. This type of screening is increasingly being required by State governments in the kindergarten population. In addition, the VivaSight device is in the final stages of a clinical validation study being conducted at the University of Iowa Hospitals & Clinics in the prestigious and top-ranking Department of Ophthalmology & Visual Sciences. Vivakor’s focus on the development of a vision screener for children, at a time when early detection is critical, complements the array of diagnostic, surgical, pharmaceutical and general consumer products being developed by larger companies such as Alcon (ACL), Allergan (AGN), Johnson and Johnson (JNJ) and Abbott Medical Optics, which is a wholly owned subsidiary of Abbott (ABT), that have become well-established in the eye care products for children. Like many of these companies which are developing outreach programs to promote vision care in third world countries, Vivakor’s VivaSight technology will be easily integrated into these outreach programs in developing countries. Vivakor believes that the DPR eye screening market potential will be $50,000,000 per year.