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Ophthalmology technology company Smartlens has announced the closing of a $6.1 million Series A equity funding round led by Ambit Health Ventures.
Stanford University, Sophia Innovation Capital, Graphene Ventures, Plaisance Capital Management, Boutique Venture Partners, Wilson Sonsini Investments and 3E Bioventures also participated in the round.
WHAT THEYRE DOING
Smartlens offers miLens, an electronics-free soft contact lens that allows providers to collect data to monitor daytime intraocular pressure using microfluidic technology. Studies showed that changes in intraocular pressure may indicate risk factors for glaucoma or a worsening of the disease.
The company will use the funds to obtain regulatory clearance for its offer.
“This technology is of the utmost importance for understanding glaucoma and daily fluctuations in intraocular pressure. Its implementation will allow doctors to improve the treatment of glaucoma and reduce the risk of permanent vision loss. Ambit Health Ventures is very proud to be involved in this innovative technology. “said Dr. Sam Goldberger, co-founder and managing partner of Ambit Health Ventures, in a statement.
MARKET OVERVIEW
About three million Americans suffer from glaucoma, and the disease is the second leading cause of blindness in the world. Of the two big types glaucoma (primary and secondary), secondary glaucoma is caused by increased intraocular pressure, which damages the optic nerve.
Other companies focused on glaucoma screening include Israeli startup Ophthalmic scienceswho offers IOPerfect, an AI-based non-contact intraocular pressure measuring device. Indian medical device manufacturer Remidio Innovative Solutions offers an integrated screening solution for referable glaucoma that consists of a phone fundus, a retinal imaging device and an AI algorithm for offline inference.
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