Israel’s Notal Vision Raises $60 Million for Its Ophthalmic Home Monitoring Services

Notal Vision (Promo pic)

Notal Vision is an Israeli medtech diagnostic services company that operates the Notal Vision Diagnostic Clinic, a medical provider with a proven platform for engaging patients and AI-enabled analyses of high-volume personalized health data that extends disease management from the clinic to the home to improve vision outcomes, reduce treatment burden, and improve health economics. The company raised $60 million in a Series D round of funding led by Soleus Capital and the company’s majority shareholder Ganot Capital.

In recent years Israel has become known as the startup state or Startup Nation. The country has had multi-billion dollar exits for numerous software and security companies. But Startup Nations is also known for its medtech startups. Israel has always been a center for medical research and innovation. Now put that together with its startup culture and you have medtech nation.
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The ForeseeHome AMD Monitoring Program is a comprehensive program, which includes an FDA cleared device that monitors visual changes in intermediate dry AMD patients at risk of vision loss from undiagnosed wet AMD. The clinical utility for ForeseeHome was established in the Home Monitoring of The Eye (HOME) Study, part of the National Eye Institute-sponsored AREDS2 study, in which 94% of patients using ForeseeHome twice weekly who progressed to wet AMD, maintained 20/40 or better vision compared to only 62% of patients whose diagnosis was at a routine eye exam or a visit triggered by symptoms. Based upon the robust level-1 evidence and compelling clinical outcomes demonstrating the ability to detect choroidal neovascularization (CNV) earlier, the ForeseeHome AMD Monitoring Program gained Medicare coverage in 2016. To learn more, visit www.foreseehome.com.

Notal Vision’s Home OCT system will enable wet AMD patients to perform technician-free OCT testing at home with rapid and self-guided fixation – critical components, especially for elderly patients frequently with pre-existing vision loss. The Notal OCT Analyzer (NOATM), a proprietary machine learning algorithm, developed in-house, performs automated analysis of the Home OCT scans and generates a report to the physician when a physician specified change in disease activity is detected.

“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.”

“Notal Vision is uniquely positioned to continue to lead the ophthalmic home diagnostic services market.” says 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.”

“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,” said Dr. Kester Nahen, Chief Executive Officer of Notal Vision. “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.”