Neuroptix announces closing of $4 million Series C funding round

Jan 10 2011

Neuroptix Corporation, a leading innovator in the early detection of Alzheimer's Disease through a non-invasive eye test, today announced that it has closed the first approximately $4 Million tranche of a Series C funding round, as the company continues clinical development of its diagnostic platform.

“Neuroptix is addressing a critical need for a cost-effective diagnostic solution which may be administered at point-of-care. Alzheimer's disease is a huge and growing problem which can only be addressed through a combination of early diagnosis and therapy.”

The investment is led by Inventages, and will be funded in two tranches totalling approximately $8 Million, contingent on the successful completion of milestones. The Neuroptix SAPPHIRE II System is a combination product, consisting of an optical measurement device and topical ophthalmic agent being developed to aid in the diagnosis of probable Alzheimer's disease.

Gunnar Weikert, Chairman, CEO and Founder of Inventages, said, "Neuroptix is addressing a critical need for a cost-effective diagnostic solution which may be administered at point-of-care. Alzheimer's disease is a huge and growing problem which can only be addressed through a combination of early diagnosis and therapy."

Paul Hartung, President and CEO of Neuroptix, said, "Neuroptix has made great strides in the development of our innovative product. The same proteins that form plaque in the brain grow in the lens of the eye, which provides a wonderful opportunity for a non-invasive test. This financing provides us with resources to move our SAPPHIRE II product through clinical studies. We are striving to help doctors identify Alzheimer's disease in its earliest stages, where intervention will do the most good."