Optical imaging startup gets $30M to advance wet AMD, diabetic retinopathy Dx tool

AngioVue--Courtesy of Optovue

Optical coherence tomography player Optovue has nabbed a $30 million investment from the Dutch subsidiary of Delta Electronics. The financing is expected to help back its existing OCT and OCT angiography products as well as its latest AngioVue Imaging System.

AngioVue hasn't nabbed FDA clearance yet, but it has been marketed outside the U.S. starting late last year. This system is the first for commercial OCT angiography, which can be used to diagnose and track complex eye disorders without dye.

"AngioVue technology has given physicians, for the first time, the ability to visualize blood vessels in the individual layers of the retina, without injections of dye," said Optovue founder and CEO Jay Wei in a statement.

He added, "This visualization information provides physicians with a compelling new way to manage patients affected by wet age-related macular degeneration, a leading cause of blindness. We expect similar contributions to the management of diabetic retinopathy, the leading cause of blindness in diabetic patients."

The AngioVue Imaging System is already in use at more than 400 sites. It's intended to be used for applications including retina, glaucoma and anterior segment examinations. Optovue is based in Fremont, CA, and was founded in 2003.

For its part, investor Delta Electronics is focused on healthcare investment as part of its long-term strategy. The company is focused on power and thermal management solutions. The Optovue investment was made via its Dutch subsidiary Deltronics.

Image from fluorescein angiography (left) and image from AngioVue (right)

"Delta is committed to investing in business segments that offer significant growth potential in industries that have a broad influence on the quality of life for people around the world, such as the medical equipment sector," said Delta Electronics Chairman Yancey Hai.

"Our investment in Optovue will create synergies that support the development and global commercialization of technologies that allow physicians to better diagnose and manage diseases that lead to blindness in millions of people worldwide," he concluded.

- here is the announcement

Suggested Articles

Millions of tests are urgently needed as the virus keeps communities across the country in lockdown and hospitals are overwhelmed with patients.

The FDA granted its first emergency authorization for a rapid antibody blood test for COVID-19 developed by Cellex.

The ultimate goal is to move as many patients as possible out of the clinic that don’t need immediate, critical care.