Lentechs LLC, an Ohio State University spinoff, has secured $6 million in funding to further develop its bifocal and multifocal contact lenses. According to the company, these lenses perform on par with eyeglasses and even surpass existing contact lenses in terms of performance. The funds will be utilized to finalize mass production methods and conduct additional clinical trials to compare the performance of Lentechs’ Apioc lens against multifocal lenses produced by the four major eyecare companies. Robin Sears, the CEO of Lentechs, stated that after these steps, the startup will likely seek another round of funding for its commercial launch.
Sears acknowledged the challenges they may face in the market, as established companies will likely try to impede their market share. However, he believes that there is a significant unmet need for patients with presbyopia in doctors’ offices, which presents an opportunity for Lentechs to make an impact in the contact lens industry.
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