Ikerian Announces Series B Funding First close of USD 8M (CHF 6.73M) Led by Sanoptis with Commercial Agreement to Expand RetinAI Discovery in Europe

• First close Series B funding round raises USD 8M (CHF 6.73M) led by new investor, Sanoptis, with participation from existing investors the THINC Ventures arm of Topcon Healthcare, Inc, Zürcher Kantonalbank and Verve Ventures
• Ikerian and Sanoptis announce a strategic commercial agreement focused on using RetinAI Discovery^® and its AI technology to support large-scale data management needs, providing real-world evidence (RWE) insights and enhancing data workflows in healthcare.
• Funds will support continued development and commercial roll out of RetinAI Discovery^®, its AI models and Discovery CONNECT™ to increase automation and seamless data connectivity into ophthalmology and optometry care; continue to build a robust database of real-world evidence (RWE); and integrate AI-driven patient pre-screening technology to accelerate clinical studies.
• Expansion into new therapeutic areas of neurodegenerative disorders, vascular conditions and rare diseases.

Bern, Switzerland and Boston, U.S.A., 16th October 2024 - Ikerian AG and its subsidiary, RetinAI U.S. Inc. a leading developer of software solutions for medical image and data management, and artificial intelligence (AI) in healthcare, announced today the successful first close of its USD 8M (CHF 6.73M) Series B financing, with new and existing investors.

The Series B funding was led by strategic investor Sanoptis alongside follow-on investment by existing investors the THINC Ventures arm of Topcon Healthcare, Inc., Zürcher Kantonalbank and Verve Ventures. Sanoptis operates in more than 420 clinic locations across Europe, and is the leading European ophthalmology provider network, fostering advancement in patient care through investment in innovation and modern solutions for patients with eye diseases.

As part of the financing and enabling the company’s evolution and growth in the clinical market, the company is accelerating the development of Discovery CONNECT™ (‘CONNECT’), a customized software solution to automate, anonymize and synchronize imaging data uploads within clinical workflows and networks. Data connectivity supported by CONNECT plays a critical role in modern healthcare to ensure sensitive health information is securely transferred minimizing manual effort, protecting patient privacy through advanced anonymization techniques and ensuring critical information is always available for clinical decision making, real world evidence generation and optimized clinical study recruitment processes. Discovery CONNECT will be deployed in Q1’2025.

Alongside the equity investment by Sanoptis, the companies have entered into a commercial agreement to support the distribution of the RetinAI Discovery^® (‘DISCOVERY’) platform and its AI models at-scale within the Sanoptis network in Europe. DISCOVERY and its AI solutions supported by generative AI tools will support clinical workflows, increase efficiency and enable better quality of patient care in the clinic, helping to improve diagnostic and treatment pathways towards personalized patient care. Placement of DISCOVERY in a select group of Sanoptis clinics began at the start of Q4 2024.

Ikerian will also utilize the new funding and partnership to expand its capabilities in real-world evidence (RWE) and support advanced clinical insights on patient outcomes. Additionally, the company will integrate AI-driven patient pre-screening technology to accelerate the pace of clinical studies. In addition, this investment will enable Ikerian to broaden its focus into new therapeutic areas and oculomics, including neurodegenerative disorders, vascular conditions, and rare diseases.

Dr. Carlos Ciller, Chairman and CEO of Ikerian, and CEO of RetinAI said: “Ikerian and its subsidiary RetinAI are committed to revolutionizing the way ophthalmology clinics connect and manage patient data. This funding allows us to enhance our platform and connectivity solutions further, ensuring clinics have uninterrupted, real-time access to critical information. By improving data connectivity, we are helping healthcare providers in ophthalmology make more informed decisions and ultimately improve the quality of care for patients.

”We are also committed to broadening the application of our AI expertise into areas beyond ophthalmology leveraging the eye as a window into the health of the rest of the body.”

Dr. Volker Wendel, CEO of Sanoptis said: “We are thrilled to enter into this partnership with Ikerian and RetinAI which will enable us to drive significant improvements in ophthalmology clinical practice. Together, we will focus on advancing technologies that empower clinicians, enhance workflow efficiency and importantly, improve patient outcomes. This partnership marks a major step forward in transforming clinical practice for the better.”