BUSINESS Lentechs Announces Successful $6 Million Fundraise to Further Development of Contact Lenses By Staff Friday, October 27, 2023 12:21 AM COLUMBUS, Ohio—Lentechs, a clinical-stage ophthalmic medical device company developing a new generation of soft, suspended contact lenses, “designed to transform the treatment paradigm for presbyopia,” according to the company, announced the closing of a successful fundraise to further key development objectives for its investigational contact lens for patients with presbyopia. The round was led by Vision Vestments LLC, with additional significant investments from JobsOhio Growth Capital Fund, Ohio Innovation Fund, Bluestem Capital, and Rev1 Ventures."This milestone signifies the strength and confidence in Lentechs and APIOC, a first-of-its-kind line of soft, suspended contact lens designed to deliver exceptional, glasses-like vision at all distances with the freedom of a contact lens. Proceeds will be utilized to finalize industry-leading manufacturing methods and additional randomized clinical trials that will test molded APIOC vs. the leading multifocal contact lenses from each of the Big-4 contact lens manufacturers," said Robin G. Sears, CEO of Lentechs. "Thank you to all our board of directors members and the investors in our company for their continued support to improve visual outcomes for millions of people worldwide."Designed specifically with presbyopes in mind, APIOC is designed to utilize the eye's anatomy rather than conform to it. Unlike traditional contact lenses, APIOC is suspended behind the upper eyelid, allowing for free, translational eye movement, behind the rotationally stable, centered contact lens. By allowing the eye to freely move behind the APIOC lens, wearers can access the specific prescription needed for each visual distance correction, according to the company.Earlier designs of APIOC showed that patients experienced improved distance vision vs. their successful, habitual, multifocal contact lenses, and vision comparable to their habitual prescription glasses, the company said."We are thrilled to invest and partner with Lentechs as part of this financing," stated Craig Krenzel, principal of Vision Vestments LLC. "Our group shares the passion for disruptive innovation and is completely aligned with Lentechs's leadership in finalizing these key objectives to further differentiate the technology for presbyopes worldwide."