NeuroVision Imaging said today it raised $15 million in a Series C round joined by Johnson & Johnson‘s (NYSE:JNJ) Innovation arm, with funds slated to support validation and approval of the company’s eye imaging system.
The round was led by Wildcat Capital Management and joined by J&J Innovation, Nikon-SBI Innovation Fund, Whittier Ventures and VSP Global, the Sacramento, Calif.-based company said.
“NeuroVision’s groundbreaking technology provides for the important possibility of detecting neurodegenerative diseases earlier through the discovery of symptoms in the eyes. In the end, this is about leading to better health outcomes and more coordinated patient care. We believe NeuroVision’s technology represents a great opportunity for optometry, underscoring the critical role the eye doctor plays within an increasingly integrated healthcare system. We are proud to support and work with NeuroVision in the eye care industry,” Eyefinity prez Steve Baker said in a prepared statement.
“The Alzheimer’s Association estimates there are 5.7 million Americans living with Alzheimer’s today, and that number is expected to reach nearly 14 million by 2050. It is imperative that innovative companies find solutions to this growing threat, and that depends on quality organizations providing the resources to support their work,” Wildcat Capital Management prez Leonard Potter said in a press release.
NeuroVision’s retinal autoflorescence eye imaging system is designed to detect amyloid beta plaque in the eye, which are a sign of Alzheimer’s disease, the company said, and could potentially be used to aid in diagnosis.
“We’re very pleased to announce this new round of financing and the confidence it represents from organizations dedicated to the development of innovative health care tools and solutions. Each participant in this round represents potential future strategic opportunities for the company as we move toward commercialization,” NeuroVision CEO Steven Verdooner said in prepared remarks.