Eyenuk is a subsidiary of Eyeenuk, Inc. ("Eyenuk" (also known as "Company") is a world-class artificial intelligence (AI) digital health company and the leading company in real-world applications of AI Eye Screening(tm) and AI Predictive Biomarkers(tm) the company announced today that it has raised $26 million from the Series A round of financing, which brings the total amount of funding for the company to more than $43 million. The capital increase was spearheaded by AXA IM Alts and was supported by existing and existing investors such as T&W Medical A/S, A&C Foelsgaard Alternativer ApS, Kendall Capital Partners, and KOFA Healthcare.

Eyenuk will use the money to increase the size of it's AI product platform, adding indications of disease and sophisticated care coordination and to accelerate the commercialization of the platform and acceptance.

"We are delighted we have AXA IM Alts, T&W Medical A/S, A&C Foelsgaard Alternativer ApS, Kendall Capital Partners, and our other investors, both new and existing investors are joining us in advancing our goal of making use of AI to monitor every eye on the planet to eliminate the risk of loss of vision and move the world to prescriptive and preventative health care," said Eyenuk CEO and founder Kaushal Solanki Ph.D. "Our Series A fundraise confirms the solid market performance of EyeArt(r) and the EyeArt(r) platform and will provide us with vital sources as we build our capabilities on the platform to include solutions for the detection of other ailments."

The announcement today follows the Sept. 29th, 2022 publication of the significant peer-reviewed study within Ophthalmology Science,a publication of the American Academy of Ophthalmology. The study concluded that EyeArt AI is the EyeArt AI technology is much more sensitive to detect referable diabetic retinopathy than dilated eye examinations conducted performed by Ophthalmologists and a specialist in the retina.

Eyenuk is pioneering the way to harness the potential of AI to end preventable blindness across the globe, with its scalable online health platform that facilitates the automated AI detection and the coordination of care. Eyenuk's flagship EyeArt AI system has seen greater acceptance in the world than any other AI technology used in opthalmology. Since its FDA approval in the year 2020 it has been used in more than 200 countries. EyeArt software has been utilized in more than 200 locations across 18 countries which includes the 14 U.S. states, to test more than sixty thousand patients and over 60,000 patients and counting. It's one of the very first and only device to be approved by the FDA for the autonomous detection of both referable and eye-threatening diabetic retina without involvement from an eye care specialists involvement.

EyeArt is a system that has been approved by Medicare. EyeArt program is covered via Medicare for the US, and has regulatory approvals across the globe including CE Marking, Health Canada license, and approvals in multiple markets across Latin America and the Middle East.

AXA IM Alts, a world leader in alternative investments with over. EUR184 billion of assets under management, which is invested into Eyenuk through its impact investing strategy which aims to create through its investments quantifiable and conscious social benefits and deliver long-term financial returns that are competitive and competitive.

"We remain satisfied with the Eyenuk team's achievements in developing and commercializing a broad approach to one the most urgent healthcare issues, the enormous burden of unavoidable loss of vision which is progressive without warning," said Zina Affas Besse PhD, Deputy Director of Healthcare Private Equity for AXA IM Alts. "Our partnership with Eyenuk is a perfect illustration of our goal to create tangible change through our investments in the world along with substantial financial gains."

This Series A capital raise of $26 million will also include the change into Series A securities of approximately $6.2 million worth of convertible notes that were raised in the past.

NEW Board Members

In connection with the capital raise Rob Binney has been appointed to in the Eyenuk Board of Directors as the Chair of the Board. Binney is a seasoned executive with more than 25 years of executive experience in Medical device and the pharmaceutical industry. The board also includes Zina Affas Besse, and Marie-Louise Little director for Strategy and Business Development at T&W Medical A/S. New board members join current board members Manish Potti and Solanki.

"We here at T&W Medical A/S are proud to have invested in Eyenuk's cutting-edge AI-based healthcare platform that is rapidly becoming a major global player in the quest to stop preventable loss of vision," said Little. "We are looking forward to assisting Eyenuk as it expands its the global market and the development of its products."

"In my 25 years of working for the top medical devices and pharmaceutical companies, I've rarely seen a company so equipped to lead a brand new market like Eyenuk," said Binney. "The combination of the most innovative technology, outstanding clinical evidence and the visionary leadership and the capability to tackle one of the most pressing issues in the world of health creates Eyenuk an exciting breakthrough success story. I am looking forward to helping the team reach the next stage of commercial expansion."

about AXA IM Alts

AXA IM Alts is a leading global player in alternative investments. It has c. EUR184 billion of assets under management, comprising c.EUR88 billion of mostly private real estate. It also has over EUR85 billion in private loans and other credit sources, and more than EUR11 billion in infrastructure private equity and hedge funds. We apply a 360deg strategy to infrastructure and real estate investing, with more than EUR131 billion worth of funds under management direct opportunities, which are held indirectly via debt and listed equity and through long-term private equity investments in operating platforms. ESG is included in our investing decision-making procedures with our responsible investing approach , anchored by the three elements of decarbonisation, resilience and creating the future. AXA IM Alts employs over 800 people across 17 offices across the globe and caters to the needs of over 500 customers who are located in Europe, North America, Asia Pacific and Middle East. We are the top property portfolio and asset manager in Europe [2] and is among the biggest worldwide.1 The source: AXA IM Alts data (unaudited) at the time on June 30, 2022.
2 Source: IPE Top 150 Real Estate Investment Managers, November/December 2021. Top real estate investment management company in Europe according to the total European property assets managed.

More About Eyenuk, Inc.

Eyenuk, Inc. is an international artificial intelligence (AI) digital health company and the world's leader in real-time AI eye Screening(tm) for self-contained disease detection and AI predictive Biomarkers(tm) to assess risk and surveillance of disease. Eyenuk's mission is to monitor every eye worldwide for timely diagnosis of eye- and eye-threatening conditions, such as diabetes retinopathy, glaucoma macular degeneration that is age-related as well as cardiovascular risk, risk of stroke, and Alzheimer's disease. You can find Eyenuk through their website as well as on Twitter, Facebook, and LinkedIn.

More about EyeArt AI System EyeArt AI System

EyeArt AI System EyeArt AI System is a fully autonomous diabetic retinal (DR) testing, which includes retinal imaging and DR detection based upon internationally accepted clinical standard and immediate reporting during a single office visit in a diabetic's routine examination. Once the images of the patient's fundus have been taken and uploaded to EyeArt AI System EyeArt AI system The DR screening results are accessible as a PDF file within less than 30 minutes.

EyeArt AI System EyeArt AI System was created with the help of funding by the U.S. National Institutes of Health (NIH) and is certified with The U.K. National Health Service (NHS). Alongside U.S. Food and Drug Administration (FDA) 510(k) approval EyeArt AI System also has 510(k) clearance. EyeArt AI system is also granted CE designation as a class 2 medical device within the European Union and a Health Canada license. It is intended to meet the requirements of General Data Protection Regulation (GDPR) and Health Insurance Portability and Accountability Act of 1996 (HIPAA) in compliance with HIPAA and the General Data Protection Regulation (GDPR).