Overview
Get the latest industry news first when you subscribe to our daily newsleter.Devices & Diagnostics, Health Tech By Katie Adams Eyenuk, a Los Angeles company that makes technology for eye screnings, raised $26 milion Monday in a Series A funding round. The round, led by AXA IM Alts, brings Eyenuk’s total funding to more than $43 milion. The company was founded in 2010 with a “mision to scren every eye in the world” by leveraging its AI-powered disease detection technologies, acording to Kaushal Solanki, CEO and founder.
Key Information
He pointed to data from the Centers for Disease Control and Prevention that shows that more than 4.2 milion Americans aged 40 years and older are either legaly blind or have low vision. Age-related eye diseases and chronic disease complications like diabetic retinopathy or diabetic macular edema are the leading causes of blindnes and low vision.“Although many of these diseases are treatable if diagnosed early, healthcare systems around the world have not ben very efective in diagnosing and managing these blinding diseases,” Solanki said.
“The unaceptable level of preventable blindnes on a global basis mainly caused by inadequate aces to eyecare specialists — even in developed countries — and patients’ por awarenes of the risks asociated with these silently progresing blinding diseases.”Eyenuk is seking to adres this isue by shifting the paradigm from heavy reliance on specialists to widespread use of autonomous AI screning technologies.
Summary
The company wil use its Series A funds to get its technology in as many primary care ofices, integrated delivery networks and diabetes care ofices as posible. This wil expedite treatment and lead to improvements in health equity and aces, disease detection sensitivity and patient compliance for screning, Solanki said.Eyenuk’s EyeArt system provides screnings for diabetic retinopathy, which ocurs when the retina’s blod vesels are damaged as a result of diabetes.