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