Stanford Invests in Series A Round for Smartlens

<p><strong><span class&equals;"legendSpanClass"><span class&equals;"xn-location">MOUNTAIN VIEW<&sol;span><&sol;span><&sol;strong> &&num;8212&semi; Smartlens&comma; Inc&period;&comma; a clinical-stage ophthalmic technology company&comma; has closed an oversubscribed <span class&equals;"xn-money">&dollar;6&period;1 million<&sol;span> Series A financing round to advance regulatory clearance for miLens&comma; a novel&comma; electronics-free&comma; soft contact lens for monitoring diurnal intraocular pressure &lpar;IOP&rpar;&period;<&sol;p>&NewLine;<p>The funding was led by Ambit Health Ventures&comma; joined by <span class&equals;"xn-org">Stanford University<&sol;span>&comma; Graphene Ventures&comma; Sophia Innovation Capital&comma; Plaisance Capital Management&comma; 3E Bioventures&comma; Boutique Venture Partners and Wilson Sonsini Investments alongside doctors&comma; industry veterans and other investors&period;<&sol;p>&NewLine;<p>At the 2023 American Glaucoma Society Annual Meeting&comma; the Company revealed remarkable clinical results for miLens&period; This groundbreaking device&comma; the first of its kind&comma; is an electronics free soft contact lens that uses microfluidics technology&period; It enables monitoring of intraocular pressure &lpar;IOP&rpar; outside of clinical settings for individuals with glaucoma and ocular hypertension&period; This development has the potential to revolutionize clinical decision-making by providing previously unattainable data&comma; allowing for personalized treatment and early detection of glaucoma patients&period; From early diagnosis to comprehensive disease management&comma; the utilization of this data can help prevent progression&comma; while also offering tailored treatments for individuals at various stages of glaucoma&period; miLens represents a decade-long&comma; multi-disciplinary team effort to address a significant and unmet clinical need&period;<&sol;p>&NewLine;<p>Savas Komban&comma; CEO of Smartlens Inc&period;&comma; said&comma; &&num;8220&semi;We are thrilled with the outstanding participation in our Series A&comma; which will bring miLens one step closer to transforming glaucoma care&period; We would like to thank our partners for their valuable support in our mission&period; Understanding the true nature of the disease in each patient throughout the day will allow proactive and well-informed clinical decisions&period; These decisions will play a vital role in preventing irreversible blindness for millions of glaucoma patients worldwide&period;&&num;8221&semi;<&sol;p>&NewLine;<p><span class&equals;"xn-person">Sam Goldberger<&sol;span> MD&comma; MBA Co-Founder and Managing Partner of Ambit Health Ventures said&comma; &&num;8220&semi;This technology is of the utmost importance in comprehending glaucoma and the daily fluctuations in intraocular pressure &lpar;IOP&rpar;&period; Its implementation will enable physicians to enhance glaucoma treatment and mitigate the risk of permanent vision loss&period; Ambit Health Ventures takes great pride in being involved with this innovative technology&period;&&num;8221&semi;<&sol;p>&NewLine;<p>Glaucoma is a group of chronic eye diseases and is the leading cause of irreversible blindness&period; Elevated IOP is the primary and only treatable risk factor for this condition&period; According to the World Health Organization &lpar;WHO&rpar;&comma; it is estimated that more than 50&percnt; of people with glaucoma are undiagnosed&comma; with over 76 million people suffering from the disease worldwide&period; This number is expected to increase to 111&period;8 million by the year 2040&period;<&sol;p>&NewLine;