MANASSAS, VA — Notal Vision Inc. has closed on a financing round worth up to $60 million.
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,” according to a press release.
Notal Vision is “a privately held ophthalmic home monitoring services provider focused on early disease detection and treatment monitoring. The Series D financing was co-led by Soleus Capital and the company’s majority shareholder Ganot Capital. Existing shareholders Elron and Evergreen contributed significantly to the round.
“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.”
The ForeseeHome AMD Monitoring Program “includes an FDA-cleared device that monitors visual changes in intermediate dry AMD patients at risk of vision loss from undiagnosed wet AMD,” the release explains.
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“Notal Vision is uniquely positioned to continue to lead the ophthalmic home diagnostic services market,” said 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.”
Dr. Kester Nahen, CEO of Notal Vision, said: “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. 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.”
