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Smartlens Inc has secured an oversubscribed $6.1M Series A financing round

Article

With this new funding, Smartlens gives the possibility of new treatment for glaucoma with miLens.

Person at a desk with a computer and calculator

(image credit: Adobestock/achira22)

A clinical-stage ophthalmic technology company, Smartlens Inc, has secured a $6.1M oversubscribed Series A financing round. The finances will be used to advance regulatory clearance for miLens, a novel, non-invasive soft contact lens for monitoring diurnal intraocular pressure (IOP).

The funding round was led by Ambit Health Ventures, joined by Stanford University, Graphene Ventures, Sophia Innovation Capital, Plaisance Capital Management, 3E Bioventures, Boutique Venture Partners and Wilson Sonsini Investments alongside doctors, industry veterans and key opinion leaders.1

"This technology is of the utmost importance in comprehending glaucoma and the daily fluctuations in IOP. Its implementation will enable physicians to enhance glaucoma treatment and mitigate the risk of permanent vision loss,” Sam Goldberger MD, MBA, cofounder and managing partner of Ambit Health Ventures, said. “Ambit Health Ventures takes great pride in being involved with this innovative technology."

The miLens is an electronics-free, soft contact lens that uses microfluidics to enable monitoring of IOP outside of a clinical setting for patients with glaucoma and ocular hypertension. This lens has the possibility of preventing progression of glaucoma by utilizing previously unattainable data, allowing early diagnosis and comprehensive disease management.

In a press release, Savas Komban, CEO of Smartlens Inc, said, "We are thrilled with the outstanding participation in our Series A, which will bring miLens one step closer to transforming glaucoma care. We would like to thank our partners for their valuable support in our mission. Understanding the true nature of the disease in each patient throughout the day will allow proactive and well-informed clinical decisions. These decisions will play a vital role in preventing irreversible blindness for millions of glaucoma patients worldwide."

References
1. Smartlens, Inc.. closes $6.1M series A led by Ambit Health Ventures with investments from prominent institutions and Stanford University. PR Newswire: press release distribution, targeting, monitoring and marketing. July 11, 2023. Accessed July 14, 2023. https://www.prnewswire.com/news-releases/smartlens-inc-closes-6-1m-series-a-led-by-ambit-health-ventures-with-investments-from-prominent-institutions-and-stanford-university-301873848.html

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