IRVINE, Calif.—LensGen, a private company developing Juvene, a modular, fluid-optic accommodating intraocular lens, announced that it has closed a $21 million Series A financing. The round was led by the corporate venture investment arm of Hoya Group. Hoya’s medical division produces intraocular lenses and other medical-related products.

Relativity Healthcare Partners also participated in the financing, which includes an option to expand the financing commitment by an additional $5 million, LensGen said in a statement.

“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,” said Ramgopal Rao, CEO and founder of LensGen.

“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,” said Augustine Yee, Hoya Group chief legal officer and head of corporate development.

The Juvene accommodating intraocular lens is designed with the potential to permanently restore clear and continuous vision at all distances for patients with cataracts and presbyopia, according to LensGen. The lens mimicks the eye’s natural accommodation process to change shape and adjust focus, like the autofocus of a camera. The lens is implanted using current surgical techniques used for traditional intraocular lenses.