In its latest financing round, Smartlens, Inc. has secured over $5 million in an oversubscribed bridge round to support its novel contact lens-based technology: the miLens.
First up: Smartlens.
Headquartered in Sunnyvale, California, the clinical-stage ophthalmic technology company features a portfolio of clinical-stage technologies for glaucoma.
Among these investigational products:
- miLens (which we’ll get to in a moment)
- Slit IQ
- An artificial intelligence (AI)-based remote examination platform with a proprietary imaging system for comprehensive anterior segment exams
- THERx IQ
- A novel wearable device with micro-dosing technology to address poor medication adherence and imprecise dosing for chronic ocular diseases (starting with glaucoma)
Before we talk about miLens, let’s discuss this financing.
In total, Smartlens closed on $5.2 million in a funding round led by Ambit Health Ventures, a healthcare innovation venture capital firm specializing in early-stage digital health and medtech investments.
- See here for other participating investors (both existing and new).
And take note: This follows a prior funding round we reported on in 2023, which raised $6.1 million (and was also led by Ambit Health Ventures).
Now, what exactly will this be supporting?
Smartlens shared that the financing will be used to advance the FDA clearance process for the aforementioned miLens—as well as to prepare for an expected market launch post-clearance.
Tell me about this.
The miLens is described as the world’s “smallest wearable microfluidic device” and the first “electronics-free contact lens technology” designed to continuously monitor intraocular pressure (IOP).
It's constructed as a multi-layer medical device composed of a silicone hydrogel material 200 microns (μm) thick.
- Notably: The tech is based on a glaucoma-monitoring implant prototype originally developed at Stanford University (one of Smartlens’s existing investors).
And how does it perform this monitoring?
The flagship product operates using the company’s Slit IQ smartphone imaging platform to capture critical pressure variations and—ideally—enable early detection of dangerous IOP spikes.
More about the duo: This miLens IQ+ platform integrates IOP patterns (from miLens) and standardized anterior segment imaging (from Slit IQ) to offer a more thorough understanding of disease progression across multiple conditions.
And what are the advantages of the combined platform?
As Smartlens pointed out, this eliminates subject variability, offers real-time stratification and data-based analysis—as well as enables more accurate treatment decisions across anterior segment diseases and predictive capabilities.
To note: These are currently undergoing clinical evaluation in pivotal clinical trials across the United States, according to the company.
Speaking of these clinical trials … any data to report yet?
Indeed, there is. In fact, we reported on positive findings from one study a couple of years ago.
The study’s purpose: To assess the comfort and accuracy of the miLens versus Goldmann applanation tonometry (GAT; the current standard for IOP measurement) and rebound tonometry (iCare 200).
See here for more study info, including patient details and the setup.
And what did the data show?
Like we said—positive findings all around.
Specifically: A significant and statistically strong correlation between IOP measurements taken with miLens compared to Goldmann tonometer measurements.
- See here for more (including a video of presentation findings).
Seeing how this was from 2023, are there any more recent clinical findings?
Not so far. However, Smartlens is reportedly recruiting for a new prospective trial (NCT06689696) that will evaluate the 24-hour wear performance and safety of the miLens for IOP monitoring.
Its purpose: To answer three key questions:
- Is the miLens able to detect patterns in IOP that occur naturally between nighttime and daytime?
- Are the contact lens recording patterns similar when repeated 1 week later?
- What ocular problems do patients have when wearing a contact lens in one eye for up to 24 hours?
What do we know about the participants and study setup?
Participants will include an estimated 125 patients (≥22 to ≤80 years of age), both healthy and diagnosed with primary open-angle glaucoma (POAG) or ocular hypertension (OHT).
As for the setup: See here for those details.
And what will be measured?
Measured throughout the study’s 24-hour duration, the following primary and secondary outcomes:
- Primary: Positive change in miLens output from evening to morning; repeatability of miLen output via a correlation between Day 0 and Week 1 miLens values; and the safety of the miLens (in other words: reported adverse events).
- Secondary: See here.
So when can we expect a data readout?
Per Clinical Trials, the study is estimated to conclude in February 2026.
As always, stay tuned!