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A Columbus-based biotech startup, Myoptechs, is pioneering a groundbreaking approach to combat myopia nearsightedness among young patients. The company's contact lens technology holds promise in halting the progression of myopia, which the World Health Organization has designated as a global health crisis.
The prevalence of myopia began to rise dramatically since the 1970s, reaching nearly 30 globally today, with projections suggesting that this number could soar up to half the world's population, approximately 5 billion people, by 2050. In certn parts of Asia, the figure stands at a staggering 70.
According to Wired Magazine in 2012, research conducted in Seoul revealed that an alarming 96.5 of men aged 19 years were nearsighted. Experts believe this spike is due to an intricate interplay between genetic factors and exposure to daylight impacting the development of a child's eye shape.
Beyond blurry vision, myopia also poses significant risks; it increases the chances of glaucoma by 14 times, retinal detachment by 22 times, and myopic macular degeneration by 41 times compared to average individuals. Since the eye fully develops by adolescence, early medical interventions are essential.
Myoptechs focuses on soft contact lenses that manipulate light dispersion within the eye, a strategy already proven effective in slowing myopia's progression. The technology signals the eye to halt growth through creating myopic defocus, enhancing peripheral retinal vision and offering clearer central vision to the wearer.
In an initial clinical trial completed at the start of 2024, Myoptechs' prototype lenses were shown to offer three times more optical signal strength than prior versions, signaling a higher potential for slowing down eye elongation that causes myopia.
The Columbus-based company collaborated with Dr. Tom Raasch, an optometrist with a Ph.D. in physiological optics and head of technology at Myoptechs, to develop its unique faceted design. The team was incorporated in 2022 and licensed the intellectual property from Ohio State Innovation Foundation just under a year ago.
Myoptechs has already secured funding grants from the state of Ohio and Rev1 Ventures for development efforts, with plans to enter the U.S. market within several years after completing potential three-year clinical trials. Meanwhile, the company is targeting international markets as early as 2027.
The potential impact on a $5 billion global soft contact lens market for myopia control underscores Myoptechs' ambitions. Currently accounting for about 25 of the total optical industry, this segment could swell to at least that figure in the next two decades.
Grimm anticipates the final product will be avlable in the U.S. market approximately three years from now but ms for wider international deployment sooner. We're targeting a significant share of the global market, he notes.
The startup's seed round funding, currently underway, has attracted multiple investor interest to support its ambitious plan over the next couple of years.
myoptechs.com
CEO: Paul Grimm
Business Focus: Ophthalmic medical devices combating myopia through advanced contact lens technology
Year Founded: 2022
Employee Count: Three
Investment Secured to Date: Not disclosed publicly
This article is reproduced from: https://www.columbusceo.com/story/business/briefs/2024/08/26/columbus-startup-myoptechs-develops-specialty-contacts-to-correct-nearsightedness-children/74956363007/
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