Notal Vision raises up to $60 million to support development of its Home OCT technology and commercial growth of its ForeseeHome AMD Monitoring Program

Tuesday, 01. June 2021 14:00

Manassas, VA, June 01, 2021 (GLOBE NEWSWIRE) -- Notal Vision, Inc., a privately held ophthalmic home monitoring services provider focused on early disease detection and treatment monitoring is pleased to announce the closing of a Series D financing co-led by Soleus Capital and the company’s majority shareholder Ganot Capital. Existing shareholders Elron and Evergreen contributed significantly to the round. The investment supports the commercial growth of the company’s current service, the ForeseeHome AMD Monitoring Program, as well as the go-to-market strategy for its Home OCT pipeline technology.

“We believe the Home OCT device from Notal Vision has the potential to transform care for millions of patients living with wet AMD and other retinal diseases” said Guy Levy, Managing Partner of Soleus Capital. “Together with ForeseeHome, we believe Notal Vision is at the forefront of remote patient care. Notal Vision is uniquely positioned to improve outcomes and reduce healthcare costs. We are excited to partner with management and company insiders to support Notal Vision's innovative retinal care offering.”

“Notal Vision is uniquely positioned to continue to lead the ophthalmic home diagnostic services market.” says Guy Katsav, Chairman of the Notal Vision Board of Directors and Managing Director, Healthcare Investment at Ganot Capital. “Through our continued investment Ganot Capital aims to improve the quality of life for senior citizens suffering from sight threatening ocular diseases.”

“The secured funding allows us to expand the remote patient monitoring services our Medicare accredited Notal Vision Diagnostic Clinic provides to patients by building referral partnerships with ophthalmologists, as well as a growing number of medically-minded optometrists nationwide,” said Dr. Kester Nahen, Chief Executive Officer of Notal Vision. “The financing round lays the foundation for the market introduction of our Home OCT monitoring program for patients with exudative retinal diseases, which is highly anticipated by retina specialists and pharmaceutical companies aiming to better personalize and improve the outcome of existing anti-VEGF therapy and emerging treatment options.”

 

About Notal Vision

Notal Vision is a diagnostic services company that operates the Notal Vision Diagnostic Clinic, a medical provider with a proven platform for engaging patients and AI-enabled analyses of high-volume personalized health data that extends disease management from the clinic to the home to improve vision outcomes, reduce treatment burden, and improve health economics. www.notalvision.com

The ForeseeHome® AMD Monitoring Program is a comprehensive program, which includes an FDA-cleared device that monitors visual changes in intermediate dry AMD patients at risk of vision loss from undiagnosed wet AMD. The clinical utility for ForeseeHome was established in the Home Monitoring of The Eye (HOME) Study, part of the National Eye Institute-sponsored AREDS2 study, in which 94% of patients using ForeseeHome twice weekly who progressed to wet AMD, maintained 20/40 or better vision compared to only 62% of patients whose diagnosis was at a routine eye exam or a visit triggered by symptoms. Based upon the robust level-1 evidence and compelling clinical outcomes demonstrating the ability to detect choroidal neovascularization (CNV) earlier, the ForeseeHome AMD Monitoring Program gained Medicare coverage in 2016. To learn more, visit www.foreseehome.com.

Notal Vision’s Home OCT system will enable wet AMD patients to perform technician-free OCT testing at home with rapid and self-guided fixation – critical components, especially for elderly patients frequently with pre-existing vision loss. The Notal OCT Analyzer (NOATM), a proprietary machine learning algorithm, developed in-house, performs automated analysis of the Home OCT scans and generates a report to the physician when a physician specified change in disease activity is detected. The Notal Vision Diagnostic Clinic provides referring physicians patient data via an online portal. In addition, physicians will be provided 24/7 access to all of their patients' B-scan images from each Home OCT test with the location of the fluid annotated on each B-scan. Following physician receipt of an alert report, patients may be brought to the office for evaluation and treatment at the doctor’s discretion. NOA can also analyze the output of other commercial OCT devices, and published study data indicate that the performance of NOA in detecting disease activity was similar to that of retina physicians when each was compared to a panel of experts. Notal Vision’s Home OCT has the potential to support current and future advances in retinal disease management.


Candice Morin
Notal Vision
4012846378
candicem@notalvision.com
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