As Octane looks forward to the annual Ophthalmology Technology Summit, we are thrilled to feature LensGen, Inc for this week’s LaunchPad Alumni Spotlight. LensGen presented at the 2018 Ophthalmology Technology Summit and was the featured Success Story in 2019 during the conference. You can read about their Success Story here. LensGen is a clinical stage company headquartered in Irvine, California focused on restoring youthful vision to millions of cataract and presbyopia patients worldwide. With its innovative Juvene® fluid-optic intraocular lens (IOL), the company aims to treat vision correction errors and provide spectacle independence to patients affected by cataracts and/or presbyopia.
For the LensGen team, the LaunchPad process enabled access and exposure to seasoned medical device entrepreneurs and executives who provided valuable feedback on strategy, pitch decks, etc. Through their affiliation with LaunchPad, they were awarded a $240K grant from J&J’s Corporate Office of Science and Technology (COSAT) program. The proceeds from the grant were used to develop prototypes, testing metrology and proof-of-concept data that supported raising seed capital to progress the company to the next phase of development.
Since LaunchPad, LensGen closed a $28M Series A round of financing. They added 26 employees and 15 consultants. In addition, they relocated into a 15,000 square foot office space near the Irvine Spectrum and built a class 7 cleanroom facility for manufacturing. This is the definition of success!
As LensGen looks forward into 2020, they are planning to submit an Investigational Device Exemption (IDE) and receive approval from the FDA to open a clinical trial on the Juvene IOL in the US. In addition, LensGen looks to close a $60M Series B Financing. In the year that denotes perfect vision in the ophthalmic world (20/20), the LensGen team is focused and motivated to achieve its goals and have an exceptional 2020.
Congratulations on the past and forward-looking success of LensGen. If your company is looking to grow and scale as well as gain access and exposure to key stakeholders, apply to LaunchPad!