Eye Health Firm Raises $15M for Alzheimer's Test
Investors include J&J and VSP Global.
SACRAMENTO, CA — NeuroVision Imaging Inc. has announced a financing round of $15 million.
The Series C round, with an initial close of $11.2 million, was led by Wildcat Capital Management with funding from several new investment groups.
The financing provides support for NeuroVision as it seeks validation and regulatory approval for a noninvasive eye imaging system for measuring retinal autofluorescence that can detect amyloid beta plaque in the eye. Amyloid beta plaque deposits in the brain are a hallmark sign of Alzheimer’s disease, and histological evidence shows that amyloid beta plaque also accumulates in the retina, the photoreceptor and nerve complex at the rear of the eye, the company stated in a press release.
In addition to Wildcat Capital Management, participants in the round are Johnson & Johnson Innovation - JJDC Inc. (JJDC), Nikon-SBI Innovation Fund, Whittier Ventures LLC and VSP Global.
"We’re very pleased to announce this new round of financing and the confidence it represents from organizations dedicated to the development of innovative health care tools and solutions," said Steven Verdooner, NeuroVision CEO. "Each participant in this round represents potential future strategic opportunities for the company as we move toward commercialization."
Joining the funding round is VSP Global, which provides access to eye care for 88 million members through a network of 39,000 eye doctors worldwide. Eyefinity, as part of VSP Global, serves optometrists and the eye care community with the industry’s leading suite of practice management software and electronic health records solutions.
“NeuroVision’s groundbreaking technology provides for the important possibility of detecting neurodegenerative diseases earlier through the discovery of symptoms in the eyes,” said Steve Baker, president of Eyefinity. “In the end, this is about leading to better health outcomes and more coordinated patient care. We believe NeuroVision’s technology represents a great opportunity for optometry, underscoring the critical role the eye doctor plays within an increasingly integrated healthcare system. We are proud to support and work with NeuroVision in the eye care industry.”