Neuroptix Raises $18.5 Million in Successful B Round
Pioneer in non-invasive eye test for Alzheimer’s raises additional VC funding as diagnostic advances toward clinical trials
ACTON, Mass.--(BUSINESS WIRE)--Neuroptix Corporation, a leading pioneer in the early detection of Alzheimer’s Disease through a non-invasive eye test, today announced that it has successfully raised a total of $18.5 million in its Series B funding round, as the company advances its diagnostic test toward clinical trials.
“We feel that the best way to achieve that is with a reliable, inexpensive and widely available test that can be performed quickly and accurately at point-of-care, to enable early intervention and careful monitoring of patients.”
The investment, led by Inventages, will advance continued development of the Neuroptix Sapphire diagnostic platform and related technologies. The Neuroptix Sapphire system consists of a non-contact optical device combined with an eye drop which specifically identifies Alzheimer’s-related proteins found in the lens of the eye. Rockport Venture Partners acted as the financial advisor on the transaction.
In preclinical testing to date, the system has shown highly promising results, with research showing strong indications that the a-beta proteins associated with the formation of Alzheimer’s-related plaques in the brain can be detected in the eye prior to their aggregation in the brain.
Dr. Gunnar Weikert, Chairman and Founder of Inventages, said, “Neuroptix as a company is clearly committed to bringing the benefits of early diagnosis to Alzheimer's patients. This investment will complement Inventages’s efforts to bring preventive and therapeutic care - together with other portfolio investments of Inventages - as widely as possible to patients afflicted with Alzheimer’s Disease. We are delighted to support this effort, which will have wide-ranging positive effects in the patient and clinical care communities.”
Paul Hartung, President and CEO of Neuroptix, said, “We are very pleased with the results of our successful B round, in support of our efforts to create and commercialize an effective, non-invasive, and early test for Alzheimer’s. Our goal is to help patients, physicians and pharmaceutical companies combat the disease in its earliest stages, where intervention will do the most good.”
He added, “We feel that the best way to achieve that is with a reliable, inexpensive and widely available test that can be performed quickly and accurately at point-of-care, to enable early intervention and careful monitoring of patients.”
About Neuroptix Corporation
Neuroptix is creating and developing an innovative, non-invasive eye test to assist in the early diagnosis of Alzheimer’s Disease. Neuroptix’s goal is to provide clinicians with a quick, predictive, reliable, inexpensive and widely available test, enabling early diagnosis and treatment. The company maintains an active interest in collaboration with major pharmaceutical companies to facilitate testing of new Alzheimer’s drugs, and with academic institutions to promote research in this area.
Inventages is one of the world's largest life-sciences, nutrition and wellness focused venture capital funds, with the resources to provide continued support to growing companies.
About Rockport Venture Partners
Rockport Venture Partners specializes in raising private equity from a global network of institutional healthcare funds for both private and public life science companies that recognize and seek the strategic advantages of a global shareholder base.