Lentechs LLC, an Ohio State University spinoff, has successfully raised $6 million in funding to further develop its innovative bifocal and multifocal contact lenses. According to the company, these lenses perform just as well as eyeglasses, and even outperform existing contact lenses in the market.
The funds raised will be utilized by Lentechs LLC to finalize its mass production methods and conduct additional clinical trials. These trials will compare the performance of Lentechs’ Apioc lens against the multifocal lenses produced by four major eyecare companies. CEO Robin Sears stated that after these steps, the startup will likely seek another round of funding for its commercial launch.
Sears acknowledged the challenges that lie ahead, as established industry giants will likely try to impede Lentechs’ market share. However, he emphasized the significant unmet need for patients with presbyopia in doctors’ offices. This presents an opportunity for Lentechs to disrupt the contact lens business.
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