Ophthalmic diagnostics firm Notal Vision has secured a total of $25m in a recent funding round from Ganot Capital, a US-based investment company in healthcare industry.
The company said that the investment will support the commercial growth of its ForeseeHome AMD Monitoring Program, and advance research and development of its new technologies in the pipeline.
Notal Vision CEO Kester Nahen said: “Pursuing additional funding has allowed us to expand our ForeseeHome field-based sales team. We have a proven model that includes low-cost medical devices, an effective artificial intelligence (AI)-driven decision support solution, and a dependable clinical patient engagement platform.
“With the additional investment, we believe we will be able to prove that partnering with accounts as an extension of their practice will drive deeper adoption of our home diagnostic services.”
Home-based OCT will address the monitoring needs of physicians and patients
The ForeseeHome AMD Monitoring Program is an FDA approved diagnostic, intended to monitor the visual changes in patients who are at risk of vision loss from undiagnosed wet AMD.
The home monitoring of the eye (HOME) trial, a part of the National Eye Institute-sponsored AREDS2 trial, has demonstrated positive results for ForeseeHome.
Notal Vision said that it is also well funded to continue the development of the Home OCT platform.
The Home OCT is said to empower exudative AMD patients to conduct rapid OCT testing at home without the need of a technician. The device offers self-guided fixation of critical components, to help elderly patients with pre-existing vision loss.
The Notal OCT Analyzer (NOATM) is a machine learning algorithm developed to automate the analysis of the Home OCT scans. The tool provides a report when a physician specified change is detected in the disease activity.
Home-based OCT is said to address the unmet monitoring needs of physicians and patients and has been granted the breakthrough device destination by the FDA in 2018.
Notal Vision is a diagnostic services company that offers medical care through its Notal Vision Diagnostic Clinic and is specialised in advancing eye care, using precision medicine.
The company deploys an advanced platform for engaging patients and AI-enabled analyses of personalized health data to improve vision, reduce treatment burden, and enhance health economics.
Notal Vision chairman of the board Guy Kastav said: “Notal Vision is uniquely positioned to continue to lead the ophthalmic home diagnostic services market.
“Ganot Capital is an investment company dedicated to improving quality of life for senior citizens. Ganot Capital believes it’s important to help Notal Vision succeed in their mission to help prevent blindness through age-related retinal diseases.”
