TORONTO—RetiSpec Inc., an innovator in AI-driven eye diagnostics for brain health, has announced the successful closing of its $10 million Series A financing. This funding will enable RetiSpec to accelerate the commercialization of its technology aimed at early detection of Alzheimer's disease, the company said. The Series A financing was led by iGan Partners and included new strategic investors, Eli Lilly and Company and Topcon Healthcare, Inc., along with existing investors, Gentex Corporation, the Alzheimer's Drug Discovery Foundation's Diagnostics Accelerator, Verge HealthTech Fund, University of Minnesota's Discovery Capital, Ontario Brain Institute, Centre for Aging + Brain Health Innovation, and private investors. This financing brings RetiSpec's total fundraising to $17 million, according to the company.

RetiSpec's clinically validated test aims to help health care providers predict amyloid burden, a core biomarker of Alzheimer's disease. The test is now available for research use only; it is expected to be utilized in routine clinical office visits globally in the near future. RetiSpec's AI solutions applied to non-invasive retinal images, provide real-time assessments at the point of care. The company's goal is to also develop additional AI-driven diagnostics for neurodegenerative diseases and side effects of Alzheimer's therapeutics.

Along with the financing, RetiSpec has also named Lance Patton, chief commercial officer at Topcon Healthcare, Inc., to its board of directors. Patton has 28 years of expertise in driving adoption of diagnostic imaging technologies via eyecare settings.

"The closing of this Series A financing is a testament of the significant strides we've achieved and marks a major step forward in our mission to enable widespread early and accurate detection of neurodegenerative disease markers with our innovative AI-driven eye test," said Eliav Shaked, co-founder and CEO of RetiSpec. "We are thrilled to welcome such strong new investors, alongside existing investors, such as Gentex, who have been key contributors throughout our journey. Together, this investment will allow us to accelerate the commercialization of our AI-driven eye test, which has the potential to transform patient outcomes and enable early, accurate, and equitable access to treatment."