Lentechs completes USD 6M fundraise led by Vision Vestments

Lentechs announced the closing of a successful fundraise to further key development objectives for its investigational contact lens for patients with presbyopia. The round was led by Vision Vestments LLC, with additional significant investments from JobsOhio Growth Capital Fund, Ohio Innovation Fund, Bluestem Capital, and Rev1 Ventures.

“This milestone signifies the strength and confidence in Lentechs and APIOC®, a first-of-its-kind line of soft, suspended contact lens designed to deliver exceptional, glasses-like vision at all distances with the freedom of a contact lens. Proceeds will be utilized to finalize industry-leading manufacturing methods and additional randomized clinical trials that will test molded APIOC vs the leading multifocal contact lenses from each of the Big-4 contact lens manufacturers,” stated Robin G. Sears, CEO of Lentechs. “Thank you to all our Board of Directors members and the investors in our company for their continued support to improve visual outcomes for millions of people worldwide.”

Presbyopia is a natural part of aging characterized by a gradual loss of the eyes’ ability to focus on objects up close and impacts 120 million people in the United States and 2 billion worldwide.1 Currently available multifocal contact lenses often force a visual compromise, leading most presbyopes to choose glasses over a preference for contact lenses.2 Solving this visual compromise and providing patients what they want to wear—contact lenses—is what Lentechs is all about.

Designed specifically with presbyopes in mind, APIOC is first and foremost designed to utilize the eye’s anatomy rather than conform to it. Unlike traditional contact lenses, APIOC is suspended behind the upper eyelid, allowing for free, translational (up and down) eye movement, behind the rotationally stable, centered contact lens. By allowing the eye to freely move behind the APIOC lens, wearers can access the specific prescription needed for each visual distance correction.

The additional clinical data will build on the already robust R&D program as Lentechs develops this breakthrough innovation. Earlier designs of APIOC already showed that patients experienced improved distance vision vs their successful, habitual, multifocal contact lenses, and vision comparable to their habitual prescription glasses.

“We are thrilled to invest and partner with Lentechs as part of this financing,” stated Craig Krenzel, Principal of Vision Vestments LLC. “Our group shares the passion for disruptive innovation and is completely aligned with Lentechs’s leadership in finalizing these key objectives to further differentiate the technology for presbyopes worldwide.”
MB Bureau