- RetiSpec Inc. closed a $10M Series A funding round.
- New investors include Eli Lilly and Company and Topcon Healthcare, Inc.
- Existing investors include Gentex Corporation and several health and research organizations.
- Total funds raised by RetiSpec now amount to $17M.
- The funding will speed up the commercialization of RetiSpec’s AI-driven eye test for Alzheimer’s detection.
- The test uses non-invasive retinal imaging to predict amyloid burden, a key Alzheimer’s biomarker.
- RetiSpec will participate in the Bio-Hermes-002 study to compare its test against standard diagnostic methods.
- Lance Patton, Chief Commercial Officer at Topcon Healthcare, Inc., joins RetiSpec’s board of directors.
Main AI News:
RetiSpec Inc., a pioneering company in AI-driven ocular diagnostics for neurological health, has successfully secured $10 million in Series A funding. This capital infusion will expedite the commercialization of RetiSpec’s innovative technology designed for the early detection of Alzheimer’s disease.
The funding round, spearheaded by iGan Partners, saw participation from prominent new strategic investors, including Eli Lilly and Company and Topcon Healthcare, Inc., alongside existing backers such as Gentex Corporation, the Alzheimer’s Drug Discovery Foundation’s Diagnostics Accelerator, Verge HealthTech Fund, University of Minnesota’s Discovery Capital, Ontario Brain Institute, and Centre for Aging + Brain Health Innovation. This latest round boosts RetiSpec’s total capital raised to $17 million.
RetiSpec’s clinically validated test focuses on predicting amyloid burden—a key Alzheimer’s biomarker—using non-invasive retinal imaging. Currently available for research purposes, the test is anticipated to become a staple in routine clinical evaluations worldwide. The company aims to expand its AI-driven diagnostic capabilities to address neurodegenerative diseases and the side effects of Alzheimer’s treatments.
Additionally, RetiSpec will participate in the Bio-Hermes-002 study, sponsored by the Global Alzheimer’s Platform Foundation (GAP). This study will evaluate the effectiveness of RetiSpec’s test against traditional diagnostic standards among 1,000 participants, including those from underrepresented groups in Alzheimer’s research.
RetiSpec also announces the addition of Lance Patton, Chief Commercial Officer at Topcon Healthcare, Inc., to its board of directors. Patton’s extensive experience in diagnostic imaging technology will be instrumental as RetiSpec scales its operations and advances its market presence.
Eliav Shaked, Co-founder and CEO of RetiSpec, expressed enthusiasm about the funding: “This Series A funding signifies our progress and is a crucial milestone in our quest to provide widespread, early, and accurate detection of neurodegenerative diseases through our cutting-edge AI-driven eye test. We are excited to welcome new investors and appreciate the continued support of our longstanding partners like Gentex, as we work towards transforming patient outcomes with our technology.“
Conclusion:
RetiSpec’s successful Series A funding round highlights significant investor confidence in its AI-driven diagnostic technology for Alzheimer’s disease. The involvement of high-profile investors and the increase in total funds reflect a growing market interest in advanced, non-invasive diagnostic tools. As RetiSpec accelerates commercialization, the company’s technology has the potential to redefine early detection practices and improve patient outcomes on a global scale. The participation in high-profile studies further underscores its commitment to validating and expanding its diagnostic capabilities, positioning RetiSpec as a key player in the neurodegenerative disease market.
