Intraocular lens developer LensGen said today it hit clinical performance milestones that triggered the release of $11 million that was part of its Series A financing round, and added that lead investor Hoya opted to invest an additional $4.4 million.
The Irvine, Calif.-based company also said it is expanding from its current office location into a 14,000 square foot office and lab space intended to accommodate new employees as the company grows, and to support R&D and manufacturing.
“We are pleased that LensGen is continuing to make outstanding progress on its clinical and business development goals. We look forward toward the achievement of the necessary steps to starting and completing the FDA trial,” Hoya Corp biz dev GM Akiteru Furukawa said in prepared remarks.
“We are thrilled to share the steady progress the LensGen team is making toward our ultimate goal of bringing the Juvene platform to market,” founder & CEO Ramgopal Rao said in a press release.
LensGen is developing the Juvene intraocular lens intended to restore vision for patients with cataracts and presbyopia. The lens is capsule filled and implanted using traditional surgical techniques, the company said.
“There was great enthusiasm from the surgeons in the room about the potential of Juvene to ultimately transform how we treat our cataract patients,” Ophthalmic Consultants of Long Island founding partner & LensGen scientific advisory board member Dr. Eric Donnenfeld said in a prepared statement.
Last May, LensGen said it raised $7.3 million in a new round of equity funding, according to an SEC filing posted this week.