Developer of glaucoma-detecting contact lenses prepares to register the product in the US
Smartlens, a US-based ophthalmic technology company, has announced the closing of a $6.1 million Series A funding round. The money will be used to obtain approval for the use of smart lenses to diagnose glaucoma.In the US, the creator of miLens smart lenses for diagnosing glaucoma has received more than $6,000 in funding that will allow it to go through the FDA registration process and bring the product to market as early as next year. Ambit Health Ventures, Stanford University, Sophia Innovation Capital, Graphene Ventures, Plaisance Capital Management, Boutique Venture Partners, Wilson Sonsini Investments and 3E Bioventures participated in the funding round, MobiHealthNews reported.
MiLens is a soft contact lens that is put on and taken off daily just like any other lens. But the smart lenses utilize microfluidics technology (a branch of science that studies small volumes of fluids and how to manipulate them). They incorporate a sealed microfluidic channel that runs around the perimeter of the user's iris; it is partially filled with non-toxic fluid and has graduated numerical markings that "indicate" intraocular pressure (IOP). As the user's IOP increases, their cornea bulges and presses against the miLens. This pressure pushes the fluid in the lens up the channel - the more pressure, the farther the fluid will travel. Thanks to a smartphone camera, the lens wearer can view real-time IOP readings.
"The technology is paramount to understanding glaucoma and the daily fluctuations in IOP. Its adoption will allow physicians to improve glaucoma treatment and reduce the risk of irreversible vision loss. Ambit Health Ventures is proud to be a part of this innovative technology," Dr. Sam Goldberger, co-founder and managing partner of Ambit Health Ventures, said in a statement.
Smartlens will use the funds raised to seek regulatory approval to use the development in the US. The company's CEO Sawas Komban had previously said that miLens would be on the market by the end of 2024 "at an affordable price."