Optina Diagnostics raises $4 mln for early detection of Alzheimer’s

Optina Diagnostics Inc, a Montréal-based developer of an eye scan for early detection of Alzheimer’s, has raised $4 million in a seed-stage financing.

Zoic Capital, a U.S. medical device venture capital firm, led the round. It was joined by Desjardins Capital, DigitalDx Ventures, Pallasite Ventures, Barney Pell, Barney Pell’s AngelList Syndicate, Advisors.fund and Hike Ventures.

Optina uses artificial intelligence and spectral retinal imaging to detect Alzheimer’s disease in order to treat it in patients before irreversible damage occurs.

The company, led by CEO David Lapointe, will use the funds raised to advance clinical development and accelerate growth and market readiness.

PRESS RELEASE

Zoic Capital, Desjardins Capital and Other Investors Join Montréal-based Alzheimer Early Detection Optina Diagnostics $4 M Seed Round

MONTRÉAL, Oct. 10, 2018 /CNW Telbec/ – Optina Diagnostics Inc., a leader in early detection of Alzheimer through the use of Artificial Intelligence (AI) and Spectral Retinal Imaging, has raised C$4 million in a new round of funding to scale up its clinical development and accelerate its growth and market readiness. The round was led by Zoic Capital with other key strategic partners, Desjardins Capital, DigitalDx Ventures, Pallasite Ventures, Barney Pell, Barney Pell’s AngelList Syndicate, Advisors.fund and Hike Ventures also participating in the round.

Thanks to the strong clinical data gathered through the financial support of CQDM and CTS, Optina is ready to extend its clinical sites and focus on the regulatory approval of it’s cerebral Amyloid prediction test.

Efficient precision medicine for Alzheimer early detection requires low cost and accessible alternatives to the current options. “Optina’s non-invasive eye test will dramatically change how Alzheimer’s disease patients are diagnosed and managed”, said David Lapointe, CEO at Optina Diagnostics. Optina presents a powerful paradigm shift for both patients and payers.

About Optina Diagnostics
Optina Diagnostics is a Montreal based company focused on the development of technology for the early detection of disease through hyperspectral imaging of the eye. With a first application in the early diagnosis of Alzheimer’s, Optina brings a radiomics approach to biomarker detection.

About Zoic Capital
Zoic Capital is an emerging medical device focused venture capital fund that invests in transformational, platform technologies with significant intellectual property potential. Zoic looks for companies in the early stages of development, with feasibility established and technology just entering the regulatory approval stage coupled with a well balanced, experienced team with novel business models. Zoic Capital is located in Seattle, San Francisco, Minneapolis, San Antonio and Tampa.

About Desjardins Capital
Nearly 45 years strong, Desjardins Capital has a mission to value, support and nurture the best of Quebec entrepreneurship. With assets under management of C$2 billion, Desjardins Capital helps contribute to the longevity of more than 460 companies, cooperatives and funds in various sectors from across Quebec and supports their business growth. For more info, visit our website.

About DigitalDx Ventures
DigitalDx Ventures is a Silicon Valley Venture firm uniquely positioned to find, support, mentor and grow the outliers in digital healthcare. DDX invests in early stage companies who effectively and efficiently harness the power of artificial intelligence and big data to profoundly impact outcomes in both diagnostics and therapeutics.

About Pallasite Ventures
Pallasite Ventures is an agile venture capital firm that works closely with early stage tech and consumer product companies to quickly provide capital for long-term growth. Then, the firm provides with the resources and support needed to grow, and the freedom deserved for the companies to continue building.

About CQDM
CQDM is a pharma-based consortium whose mission is to fund the development of innovative tools and technologies that accelerate drug discovery. A unique organization, CQDM’s business model is based on a collaborative approach where all stakeholders share the costs of biopharmaceutical research, and benefit from its results. CQDM also provides a common meeting ground where academia, governments and the pharmaceutical and biotechnology industries converge to address numerous complex medical challenges. Industrial members of CQDM include Merck, Pfizer, AstraZeneca, Boehringer Ingelheim, GlaxoSmithKline, Eli Lilly Canada, Janssen, Novartis Pharma Canada, Sanofi Canada, Servier, Roche, Takeda, as well as from Quebec’s Ministry of Economy, Science and Innovation (MESI) and from the Government of Canada under the Business-Led Networks of Centres of Excellence Program (BL-NCE). For more information:www.cqdm.org.

About CTS
CTS is an accelerator of companies in the field of medical technologies which offers them to develop faster and increases their chances of success. The goal of the CTS is to offer start-up companies a unique proposition with structured framework that allows them to focus on developing their technology, reaching market dynamics and gaining the visibility they need to start and develop internationally.

For further information: David Lapointe, CEO, dlapointe@optinadx.com; Chantal Miklosi, CFO, cmiklosi@optinadx.com