Diagnostics player NeuroVision raised $10 million in a Series B round, a portion of which was reserved for strategic investors.
Wildcat Capital Management led the round with $5 million and Leonard Potter, the firm's chief investment officer and president, will join NeuroVision's board of directors.
NeuroVision will use the funding to advance its retinal imaging technology for the early detection of Alzheimer's disease. The test identifies buildup of amyloid-beta protein in the retina, which has similar characteristics to the brain. Studies have shown that amyloid-beta plaques that build up in Alzheimer's patients' brains also accumulate in the retina. The hope is that monitoring the retina could help doctors spot Alzheimer's earlier and guide treatment.
Retinal imaging could become a noninvasive alternative to PET scans and cerebrospinal fluid analysis, which are currently being used to detect amyloid, NeuroVision said in the statement. These methods are used for clinical trials and to diagnose Alzheimer's, but are not suitable for routine screening, disease monitoring and evaluating a patient's response to therapy, the company said.
In February, Johnson & Johnson's ($JNJ) Janssen expanded its collaboration with NeuroVision, contributing an upfront payment as well as payments for participation in Janssen clinical trials and a milestone payment for a regulatory approval. NeuroVision's tech is already in clinical trials in the U.S. and Australia, according to the company.
- here's the statement