Biotechnology Company

LENTECHS

79%

Funding Goal $7,000,000
Funding Raised So Far $4,063,000
Funding Commitments $1,500,000
Funding Remaining $1,437,000
Funding Type Preferred Equity
Pre-Money Valuation
Investor Ownership
Interest / Dividend
Previous Funding

Company Overview


LENTECHS is a clinical-stage, ophthalmic medical device company dedicated to improving vision through breakthrough contact lens technology.

APIOC® is a patented, first-of-its-kind line of soft, suspended contact lens designed to deliver exceptional, glasses-like vision at all distances. Lentechs is focused on the 120 million US patients and 2 billion worldwide living with presbyopia and presbyopia with astigmatism.

The APIOC design is completely different from current soft, multifocal contact lenses which only offer simultaneous vision correction and cause some visual compromise, making lenses more challenging to adapt to for some patients. APIOC has been designed especially with the presbyopia patient in mind. The majority of these patients wear spectacles but would prefer to wear contact lenses and, among these patients who do wear contact lenses, many do not receive the desired results from currently available technology. With a slightly more relaxed fit than traditional lenses, APIOC’s breakthrough design consists of unique, patented features which suspend the lens behind the upper eyelid.

APIOC is first and foremost designed to utilize the eye’s anatomy rather than conform to it. Unlike traditional contact lenses, our APIOC lens is suspended behind the upper eyelid, allowing for free, translational (up and down) 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, achieving glasses-like vision with the freedom of a contact lens.

The Team, Board of Directors and Medical Advisory Board are highly experienced. Recently completed studies in humans give a strong signal of efficacy and support the expected improved vision versus currently available multifocal contact lenses for presbyopia.

Lentechs is in the process of raising a Series B to perform head-to-head randomized controlled clinical trials versus the market leading multifocal contact lenses for presbyopia. This could lead to an independent commercial launch or sale.

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Business Summary


Company Age 6 years, 3 months
Employees 10
Sub-Industry Biotechnology – Devices & Equipment
Prior Year Revenue
Current Year Revenue
Next Year Revenue

Products/Services


APIOC®/A New Generation of Soft, Suspended Contact Lens

APIOC® is a patented, clinically-proven, first-of-its-kind line of soft, suspended contact lens designed to deliver exceptional, glasses-like vision at all distances.

Our innovative APIOC line began with a core technology licensed from The Ohio State Innovation Foundation. Since that time, we have designed APIOC with support and partnership from a coalition of leading eye care practitioners and technical contact lens experts.

APIOC is first and foremost designed to utilize the eye’s anatomy rather than conform to it. Unlike traditional contact lenses, our APIOC lens is suspended behind the upper eyelid, allowing for free,
translational (up and down) 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, achieving glasses-like vision with the freedom of a contact lens.

Management


Robin Sears
Chief Executive Officer
Robin S......

Robin G. S......, MBA (Chief Executive Officer) – has over 25 years of commercial and general management experience in medical device, pharmaceutical and consumer products in the life sciences sector, including extensive eye care experience with Allergan. He has launched numerous new products that have exceeded market and shareholder expectations.

Joseph Barr, OD, MS, FAAO
Chief Physician/Medical Officer
Joseph B......

Joseph T. B...... (Chief Medical Officer) – is an Emeritus Professor at The Ohio State University College of Optometry and the other inventor of APIOC. He has 40 years of experience in academia and working with and in industry to develop dozens of contact lenses and other ophthalmic devices.

Bradley Beasecker
Chief Finance
Bradley B......

Brad B......, CFA (Chief Financial Officer) – is a successful, seasoned entrepreneur with a 30+ year career. He has held several “C” level executive positions including President/CEO as well as COO and CFO. The bulk of his efforts have been with start-ups and early-stage companies, where his expertise in capital access and company/product launches has been shown.

Paul Grimm
Chief Marketing Officer
Paul G......

Paul G...... (Chief Commercial Officer) – is an accomplished sales and marketing executive with 18 years of leadership in pharmaceuticals, medical nutrition, and healthcare consumer packaged goods; this diverse experience has afforded him the opportunity to serve a wide-range of consumer populations and health concerns.

Investors/Lenders


Private Equity Group
Bluestem

A Midwest private equity company; one of the most active investors in ophthalmology related ventures.

The name "Bluestem" was chosen to honor the monarch of the prairie grasses - Big Bluestem. Our Midwestern "roots" serve as a foundation from which we expand our desire to excel at the financial development of our partners, our investors and the communities we serve.

And while phone calls and e-mails are effective forms of communication, we prefer shaking hands, meeting face-to-face and getting to know our business partners and their teams.

Amount
Investment Type
Investment Round
Investment Date
Venture Capital Fund
Rev1 Ventures

Rev1 Ventures, the startup studio that helps entrepreneurs and corporations accelerate innovation.

Rev1 Ventures accelerates innovation with connections and capital that help entrepreneurs build high-growth tech companies in software, healthcare, and more. Its flexible startup studio platform serves entrepreneurs at their earliest stages while aligning with corporate and research partners to validate customers, build teams, and access funding. Rev1 is changing the equation for startup success and putting Central Ohio on the map as one of the fastest-growing innovation ecosystems in the country.

Amount
Investment Type
Investment Round
Investment Date

79%

Funding Goal $7,000,000
Funding Raised So Far $4,063,000
Funding Commitments $1,500,000
Funding Remaining $1,437,000
Funding Type Preferred Equity
Pre-Money Valuation
Investor Ownership
Interest / Dividend
Previous Funding

Documents


Contact


LENTECHS

Columbus, OH 43235, US

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