Lentechs LLC, an Ohio State University spinoff, has successfully raised $6 million in funding to further develop its revolutionary bifocal and multifocal contact lenses. According to the company, these lenses perform just as well as eyeglasses, if not better than existing contact lenses. The funds will be utilized to finalize the methods for mass production and conduct additional clinical trials to compare the performance of Lentechs’ Apioc lens against multifocal lenses produced by the four major eyecare giants. Robin Sears, the CEO of Lentechs LLC, stated that after these milestones are achieved, the startup will likely seek another round of funding for its commercial launch.
Sears acknowledges the challenges that lie ahead, recognizing that established companies will attempt to impede their market share. These industry giants have a long-standing dominance in the marketplace. However, Sears believes that there is a significant unmet need for patients with presbyopia in doctors’ offices. This presents an opportunity for Lentechs to make a breakthrough in the contact lens business.
For more information on this exciting development, visit ColumbusBusinessFirst.com.
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