The agreement between Alcon and Google remains subject to anti-trust approvals.
Alcon, the eye care division of Novartis, has entered an agreement with Google to in-license its smart lens technology.
Alcon and Google will leverage each other's expertise to develop smart lenses that would be used to monitor the wearers' blood sugar level and help presbyopia patients with vision correction.
Alcon will also commercialise and develop Google's smart lens.
By combining Novartis' own medical device expertise along with Google's miniaturisation of electronics complement, Novartis will be able to map and manage human diseases inside the body to prevent them better way.
Alcon's division head, Jeff George, said: "By combining Alcon's leadership in eye care and expertise in contact lenses and intraocular lenses with Google's innovative "smart lens" technology and groundbreaking speed in research, we aim to unlock a new frontier to jointly address the unmet medical needs of millions of eye care patients around the world."
Google's co-founder, Sergey Brin, said: "Our dream is to use the latest technology in the miniaturization of electronics to help improve the quality of life for millions of people."