Digital imaging and diagnostic solutions developer NeuroVision Imaging has raised $15m in a Series C round to support validation and approval of its eye imaging system.
The round was led by Wildcat Capital Management and joined by J&J Innovation, Nikon-SBI Innovation Fund, Whittier Ventures and VSP Global.
NeuroVision’s noninvasive, eye imaging system is designed to measure retinal autofluorescence that can identify amyloid beta (Aβ) plaque in the eye.
The company said Aβ plaque deposits in the brain are a hallmark sign of Alzheimer’s disease, and histological evidence demonstrates that Aβ plaque also accumulates in the retina, the photoreceptor and nerve complex at the rear of the eye.
VSP Global, which joined the funding round, provides access to eye care for 88 million members through a network of 39,000 eye doctors across the world.
Wildcat Capital Management president and chief investment officer and a member of NeuroVision’s board of directors Leonard Potter stated that Alzheimer’s disease offers an important target for investors.
Potter said: “The Alzheimer’s Association estimates there are 5.7 million Americans living with Alzheimer’s today, and that number is expected to reach nearly 14 million by 2050.
“It is imperative that innovative companies find solutions to this growing threat, and that depends on quality organizations providing the resources to support their work.”
NeuroVision’s experimental technology aims to assess the signs of Alzheimer’s disease, through the accumulation of amyloid beta plaque in the brain.
Presently, the technology with which Alzheimer’s disease is detected involves the use of positron emission tomography or PET scans, and cerebrospinal fluid analysis to detect amyloid for clinical trials and as an aid in the diagnosis of Alzheimer’s disease.
These procedures are invasive, inconvenient and expensive for clinical trial recruitment and also considered to be impractical for routine screening, disease monitoring and evaluation of therapy response.
NeuroVision CEO Steven Verdooner said: “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.
“Each participant in this round represents potential future strategic opportunities for the company as we move toward commercialization.”