#USA #Sunnyvale #Smartlens #miLens #glaucoma care

Smartlens Secures $5.2 Million for FDA Approval and Launch of miLens

Smartlens, Inc., a clinical-stage ophthalmic technology firm, has successfully closed an oversubscribed funding round, raising $5.2 million to expedite the FDA clearance process for their innovative product, miLens. This cutting-edge soft contact lens is designed to monitor intraocular pressure (IOP) continuously, fundamentally changing how glaucoma is managed.

Major Funding Round Led by Ambit Health Ventures

This latest funding round was spearheaded by Ambit Health Ventures, a venture capital firm specializing in healthcare innovation. Existing investors, including Graphene Ventures and Boutique Venture Partners, participated alongside new contributors such as Harvard Business School Alumni Angels GNY, boosting Smartlens’s growth trajectory as they prepare for market launch.

Pioneering Technology

MiLens is not just a contact lens; it is the world’s first electronics-free lens capable of real-time IOP monitoring. It works directly with a smartphone imaging platform powered by AI to gather crucial data on pressure fluctuations. This technology promises to empower patients and their healthcare providers with valuable insights for timely interventions and personalized treatment plans.

The success of miLens hinges on the groundwork laid during a pivotal clinical trial involving multiple U.S. sites, where Smartlens showcased impressive results in terms of regulatory compliance and manufacturing scalability. The FDA clearance is anticipated to be a turning point for the company, enabling them to transition from product development to commercial activities.

High Demand from Practitioners

In a recent survey conducted by Market Scope involving 166 eye care professionals, an overwhelming 96.2% expressed eagerness to adopt this innovative solution once it becomes available. This endorsement highlights the excitement within the medical community about smart and continuous glaucoma care solutions.

Addressing a Significant Global Health Issue

Glaucoma and ocular hypertension impact over 180 million people worldwide, with elevated intraocular pressure being a key risk factor for vision loss. Existing methods often rely on sporadic IOP readings, which can miss critical elevations that occur throughout the day. Continuous monitoring via miLens can enable faster and more effective healthcare responses, providing a much-needed solution to an ongoing global health crisis.

A Forward-Looking Vision

CEO Savas Komban stated, “This financing milestone strengthens our position as we advance through the FDA clearance process and prepare for commercialization.” He emphasized that miLens aims to transition glaucoma management from reactive measures to proactive, data-driven treatment strategies. The ongoing support from investors reflects both the vast potential of this technology and its positive implications for patients worldwide.

About Smartlens, Inc.

Established to revolutionize the management of anterior segment diseases, Smartlens focuses on continuous monitoring and innovative treatments. The company is on a mission to integrate AI-enhanced diagnostics with advanced microfluidic contact lens technology, aiming not just for glaucoma management but also for potential applications in other ocular diseases in the future.

For additional insights and updates, visit Smartlens Health.

About Ambit Health Ventures

Ambit Health Ventures invests in early-stage digital health and medtech innovations, propelling advancements in healthcare outcomes. With extensive industry expertise, they strategize to facilitate innovations that have a lasting impact on the healthcare landscape.

For more information, explore Ambit Health Ventures.