LensGen® Closes $10 Million Financing and Welcomes James V. Mazzo to its Board of Directors
Irvine, Calif., August 20, 2020 – LensGen, Inc., an ophthalmic medical device company and developer of Juvene®, a disruptive fluid-optic intraocular lens (IOL) for cataract and presbyopia treatment, announces the initial Closing of a $10 million of the $20 million Bridge Financing. The company is also pleased to announce the election of James (Jim) Mazzo to its Board of Directors.
The financing was led by the corporate venture investment arm of HOYA Group and is part of a larger Series B Financing planned in early 2021 that will fund the company through approval of Juvene IOL pivotal FDA study. “We are pleased that LensGen continues to make excellent progress towards advancing their IDE approval process and position the company for initiation of Phase I FDA study,” said Akiteru Furukawa, General Manager, Hoya Corporate Venture Capital Group.
With over 40 years of experience building and advancing world-class ophthalmic organizations, Jim Mazzo joins the LensGen Board of Directors as one of the industry’s best-known, most respected and charismatic leaders. He serves on the ASCRS Governing Board, the AAO Foundation Advisory Board, and is an Executive Committee Member of the Medical Device Manufacturers Association (MDMA) and is founder and Chairman of Octane.
“LensGen has a unique platform technology that I believe represents the future of cataract and lens replacement surgery,” said Mazzo. “I am looking forward to working with this innovative and dedicated team of professionals and leading surgeons around the world to bring better lens implant treatment options to patients.”
“We are delighted to attract additional investment from an experienced ophthalmology and corporate strategic investor like HOYA in order to advance into the pivotal stage of our FDA clinical study and bring to market an innovative and elegant solution for treating cataracts and presbyopia,” said Ramgopal Rao, CEO and Founder of LensGen.
“We are proud to invite an eminent industry leader of Jim Mazzo’s caliber to our board,” said Ramgopal Rao. “Jim’s knowledge of the ophthalmic community and commitment to excellence fits ideally with our culture and passion for true innovation and collaborating with eye care professional to provide them with the best solutions for their patients.”
Media Contact:
Ed Coghlan
The Kilkenny Group
Phone:818-489-4774
Email: edcoghlan@thekilkennygroup.com
