Costa Mesa-based Neurolens Inc., which is trying to reduce the problem of eyestrain from viewing digital devices, disclosed it has raised $23.8 million, according to a March 12 filing with the Securities and Exchange Commission. About 24 investors participated in the offering, the filing said. It did not specify what it intends to use the proceeds of the offering for.
The company said a three-minute test it provides at the optometrist can determine the degree of misalignment between the eyes and internal processing systems. It then designs a lens to correct for all distances and clarity, according to its website.
Its contoured prism technology has been shown in clinical studies to reduce headache, neck/shoulder pain, and eyestrain related to the use of digital devices or reading, the company said.
About 65% of adults in the U.S. complain of eyestrain symptoms and spend upward of nine hours per day staring at digital devices, according to the company’s website. The company claimed its products have helped 93% of patients find relief, with 56% seeing a reduction in three or more symptoms.
Last year, the company went through a sleuth of developments. First, it changed its name from eyeBrain Medical to the name of its flagship product, Neurolens. Then in September, it named Matt Swartz vice president of sales and business development and Pierre Bertrand took the role of chief marketing officer. Both come to Neurolens with prior experience at major U.S. lens manufacturer Dallas-based Ellisor Inc., with Swartz having worked at New York-based Bausch and Lomb.
