ZURICH—Novartis AG and Google Inc. are joining forces to work on a smart contact lens that monitors blood-sugar levels and corrects vision in a new way, the latest in a series of technology products designed to monitor body functions.

On Monday, the two companies said Novartis's Alcon eye-care division would license and commercialize "smart lens" technology designed by Google[x], a development team at the search engine giant. Financial details of the partnership weren't provided.

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