Ophthalmic device developer LensGen said today it closed a $21 million Series A financing round to support its Juvene accommodating intraocular lens.
The financing round was led by the corporate venture investment arm of Hoya Group and was joined by Relativity Healthcare Partners, the Irvine, Calif.-based company said.
“As one of the leading global intraocular lens companies, Hoya is very pleased to be working alongside companies like LensGen in advancing potentially meaningful innovations for the ophthalmic community and their patients,” Hoya Group chief legal officer Augustine Yee said in a prepared statement.
The Juvene lens is designed to potentially permanently restore clear and continuous vision at all distances for patients with cataracts and presbyopia, LensGen said. The company said the lens mimics the eye’s natural accommodation process to change shape and adjust focus, and can be implanted using current surgical techniques for intraocular lenses.
“I believe Juvene has great potential to solve presbyopia and improve the lives of patients. From the early days of LensGen, I was enthusiastic about a curvature changing, biomimetic lens design, and I am excited with the progress that LensGen has achieved,” Dr. Roger Steinert of the University of California, Irvine said in prepared remarks.
“We are pleased to attract an experienced ophthalmology and corporate strategic investor like HOYA to accelerate our efforts to further develop and bring to market this innovative and elegant lens solution for treating presbyopia,” founder & CEO Ramgopal Rao said in a press release.