Smartlens Closes $6.1 Million Series A Financing to Advance miLens Device

Smartlens has closed an oversubscribed $6.1 million Series A equity financing round to advance regulatory clearance for miLens, a novel, electronics-free, soft contact lens for monitoring diurnal IOP.

The miLens device is an electronics free soft contact lens that uses microfluidics technology. It enables monitoring of IOP outside of clinical settings for individuals with glaucoma and ocular hypertension. This development has the potential to revolutionize clinical decision-making by providing previously unattainable data, allowing for personalized treatment and early detection of glaucoma patients, according ot Smartlens. From early diagnosis to comprehensive disease management, the utilization of this data can help prevent progression, while also offering tailored treatments for individuals at various stages of glaucoma.

"We are thrilled with the outstanding participation in our Series A, which will bring miLens one step closer to transforming glaucoma care," Savas Komban, CEO of Smartlens, said in a company news release. "We would like to thank our partners for their valuable support in our mission. Understanding the true nature of the disease in each patient throughout the day will allow proactive and well-informed clinical decisions. These decisions will play a vital role in preventing irreversible blindness for millions of glaucoma patients worldwide."

The funding round was led by Ambit Health Ventures, joined by Stanford University, Graphene Ventures, Sophia Innovation Capital, Plaisance Capital Management, 3E Bioventures, Boutique Venture Partners and Wilson Sonsini Investments alongside doctors, industry veterans and key opinion leaders.