Posted in Ophthalmology by Stephen Levy on January 21, 2014
QSpex Technologies recently announced that it has raised $15 million to fund the launch of its latest counter-top lens manufacturing machines.
The Alpharetta, GA–based company on January 14 also announced the appointment of board member and advisor Brett Craig as president and CEO, with Evan Melrose, MD, as chairman.
QSpex claims its machines can make polarized, anti-reflective, and photochromic lenses in fraction of the time of a traditional lens manufacturing machine.
Optometrists can install the QSpex system in their facilities. First-generation systems can deliver finished lenses in about 35 minutes, and the new generation of machines are even faster, according to QSpex.
The QSpex system allows eye care professionals to make lenses right in their office. (Courtesy QSpex Technologies Inc.)
In the QSpex process, a liquid plastic is injected into a single-use disposable plastic mold. This plastic is hardened in a light curing process. All lens treatments are applied to the inside surface of each mold and transferred to the lens during the curing process. The molds can be recycled after use.
A variety of optical instrumentation will be on display at the MD&M West exposition, held February 11–14 in Anaheim, CA.
The new second-generation Nano Lab and Mini Lab use the same technology as the earlier system, but employ more automation to decrease the amount of time needed to make lenses. The company says its Nano Lab has the capability to make up to 20 pairs per hour, while the Mini Lab can make up to 120 pairs per hour.
Founded in 2007, QSpex Technologies uses proprietary technology created by Kai Su, PhD, the company’s founder and chief science officer. Su served as executive vice president and head of research at CIBA Vision’s Advanced Technology Division for 15 years. According to QSpex's website, Su is the inventor of more than 100 vision care patents.
The latest round of financing was co-led by Spindletop Capital (Austin, TX) and Essex Woodlands Health Ventures (Palo Alto, CA). Both of these venture capital firms were previous investors in the company's earlier financing rounds.
