Smartlens, Inc. announced it has secured an oversubscribed $6.1 million Series A equity financing to pursue regulatory clearance for its novel contact lens-based technology: the miLens.
Let’s start with the company.
Smartlens is an ophthalmic medical technology company based in California with a portfolio of clinical-stage technologies for glaucoma, including a unique platform with the potential to enable early diagnosis and prevention for disease progression.
And its technology?
The company’s flagship product is the miLens (more on that in a minute).
Also to note is THERmic, Smartlens’ next-generation, non-invasive, adaptive technology that monitors efficacy and offers patients personalized therapies.
Now tell me about miLens.
The contact-lens based tech is designed to monitor intraocular pressure (IOP) on-demand from anywhere, anytime—and is based on a glaucoma-monitoring implant prototype that was originally developed at Stanford University.
Go on …
The soft contact lens system (miLens) is a multiple-layer medical device composed of a silicone hydrogel material that is 200 microns thick.
It uses the company’s electronics-free sensor technology, which, according to the company, is currently being studied at Stanford to also monitor intracranial pressure (ICP) associated with neurological disorders.
And the financing?
The company’s funding round was led by Ambit Health Ventures and included Stanford University, Graphene Ventures, Sophia Innovation Capital, Plaisance Capital Management, 3E Bioventure Partners, and Wilson Sonsini Investments.
Any clinical data on it yet?
Yes!
The company released data in May 2023 regarding a recent clinical study assessed the miLens in comparison to Goldmann applanation tonometry (GAT)—the current standard for IOP measurement—and rebound tonometry (iCare 200) in patients who were free from ocular pathology with a visual acuity of 20/25 or better as well as inter-eye IOP measurements of <2 mmHg.
What were the findings?
A significantly and statistically strong positive correlation was noted between IOP measurements taken with the miLens compared to Goldmann tonometer.
Further, the MiLens-measured IOP changes were also consistent with GAT IOP values.
And significance?
Smartlens CEO Savas Komban previously stated that the company believes “miLens has the potential to advance and transform glaucoma care by providing convenient and reliable IOP monitoring that can significantly improve patient outcomes."