TECLens raises $5.2M to take on age-related farsightedness

What's the deal? Stamford, Connecticut-based biotech TECLens has raised $5.2 million to advance clinical development of its treatment for presbyopia, the age-related loss of near vision that typically leads people to reach for reading glasses.

What's the endgame? The company is developing an approach that aims to make reading glasses optional for people with presbyopia. The new capital will fund its clinical development.

The signal: Presbyopia affects most people as they age, making it a large potential market for any treatment that reduces reliance on reading glasses. TECLens is betting a clinical alternative can win over patients who would rather not depend on eyewear.

Read more: hartfordbusiness.com

Image credit: photosteve101