The prototype lens, first revealed in January, relies on a tiny wireless chip and miniaturised sensors to measure the level of glucose in the wearer's tears and communicate the information back to a mobile phone or computer.
"We are looking forward to working with Google to bring together their advanced technology and our extensive knowledge of biology to meet unmet medical needs," said Novartis CEO Joseph Jimenez. "This is a key step for us to go beyond the confines of traditional disease management, starting with the eye."
As well as helping diabetic patients manage their disease, Novartis believes the smart lens could benefit people living with presbyopia who can no longer read without glasses, by restoring the eye's natural autofocus on near objects.
Sergey Brin, co-founder of Google, commented: "Our dream is to use the latest technology in the miniaturisation of electronics to help improve the quality of life for millions of people. We are very excited to work with Novartis to make this dream come true."