MaNASSAS, VA — Notal Vision Inc., a privately held ophthalmic diagnostic services company, announced that Ganot Capital is extending the recent funding round to $25 million.
The continued investment will enable Notal Vision to support the commercial growth of the company’s current service, ForeseeHome AMD Monitoring Program, as well as further research and development efforts for pipeline technologies. The company is focused on “advancing eyecare with precision medicine by extending disease management from the clinic to the home,” according to a press release.
“Pursuing additional funding has allowed us to expand our ForeseeHome field-based sales team,” said CEO Kester Nahen. “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.”
The company is also funded to continue development of the Home OCT platform, according to the release. The company noted that the platform received FDA Breakthrough Device status at the end of 2018 and that efforts to establish reimbursement are under way.
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The home-based OCT “will help address the high unmet monitoring need for physicians and their patients alongside anti-VEGF therapy,” according to the release.
“Notal Vision is uniquely positioned to continue to lead the ophthalmic home diagnostic services market,” said Guy Kastav, chairman of the board of Notal Vision. “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.”