November 1, 2010 -- Aescap Venture, De Hoge Dennen and new CEO Jeroen Cammeraat provide capital that allows i-Optics to launch EasyScan retinal imaging system in key markets
The Hague, The Netherlands – November 1, 2010 – i-Optics, a company focusing on the development and marketing of highly innovative retina and cornea imaging systems, announced today the successful closing of its 3rd financing round with an investment of 4.2 Million Euro. This investment allows the company to launch early 2011 its first product EasyScan in key European markets and prepare for further International expansion into the US and emerging markets in the second half of next year.
Jeroen Cammeraat, who was appointed CEO on 1st September 2010 comments on this important milestone: “The EasyScan product is a highly innovative retinal imaging system that is designed for screening and early diagnosis of Diabetic Retinopathy (DR) and other eye diseases such as AMD and Glaucoma. The EasyScan is a very exciting first product to launch as it will solve multiple unmet market needs in particular when it comes to DR screening”.
According to the American Diabetes Association, there are 23.6 million diabetes patients in the USA, of which annually 12.000 to 24.000 become blind due to Diabetic Retinopathy. Annual screening of Diabetes patients as recommended by the WHO is critical, however it is estimated that less than 50% do so.
Jeroen Cammeraat adds: “Current systems are not designed for screening. In most cases these systems require eye dilation which is time consuming and does not allow the patient to drive home after the exam. The EasyScan is a fast and easy to operate eye diagnosis system. It does not require any dilation because of the scanning laser technology (SLO) used and allows the operator to diagnose within 3-5 minutes per patient. This compares to more than half hour from start till end for other systems that do require dilation”.
The Netherlands based VC fund Aescap Venture together with De Hoge Dennen and Jeroen Cammeraat as private investor have provided the funding of 4.2 million Euro needed to launch the EasyScan in Europe, USA and key emerging markets. Mr Pieter van der Meijden, member of the management team of De Hoge Dennen, will join the Supervisory Board, consisting of Patrick Krol and Stephane Sallmard who as CEO listed in 2006 the retinal imaging company OPTOS at the London Stock Exchange.
Patrick Krol, who represents Aescap Venture, comments on the financing, which is the third round of Aescap in i-Optics: “We are very excited about the potential of the company, the team and the products. The EasyScan is the first product in a broader portfolio the company is working on. The EasyScan is with 8 kilogram only one third of the weight and size of other products on the market. It is powered by a laptop through a USB port, which makes it the first mobile DR screening solution. This product can be used anywhere, anytime and by any diabetes care provider who is qualified to diagnose DR. This offers great benefits to care providers and diabetes patients around the world. We are confident that i-Optics will do well in serving millions of diabetes patients”.
About i-Optics BV - www.i-Optics.com
The company i-Optics was founded in 2003 and is a leading pioneer in the development and marketing of superior eye diagnosis solutions that are affordable, fast and easy to use by care providers to better serve patients across the world in the most convenient way. i-Optics has a broad pipeline of eye diagnostic products of which the EasyScan and the Cassini will be launched in 2011. The EasyScan is a fast and easy to use non-mydriatic retina imaging system based on SLO technology for the diagnosis of Diabetic Retinopathy, AMD and Glaucoma. The Cassini is a first of its kind corneal topographer based on the principle of color coded topography, which allows for superior diagnosis for contact lens fitting, corneal transplant and LASIK surgery. The company i-Optics is backed by Aescap Venture and De Hoge Dennen.
About Aescap Venture - www.aescap.com
Aescap Venture is a venture capital company investing in private medical companies in Europe. Aescap invests in high-potential companies with the potential to become global leaders in their markets. This involves investments in all phases of development with an emphasis on earlier stages. Aescap Venture’s added value is based on a multi-disciplinary team of four experienced investment partners. Each has a proven track record of success and the skills to coach entrepreneurs in accelerating the growth of their companies.
About De Hoge Dennen - www.dehogedennen.com
De Hoge Dennen is a family owned investment company which invests in several asset classes, amongst others direct private equity and indirect private equity. The investment company has a long term focus. De Hoge Dennen‘s added value is based on its entrepreneurial background, a team of multi-disciplinary professionals and its network.
For further information please contact:
Jeroen Cammeraat at i-Optics Tel: +31 (0)70 399 31 12 Email: j.cammeraat@i-optics.com Westeinde 12C 2512 HD The Hague The Netherlands
Patrick Krol at Aescap Venture Tel. +31 (0)20 5702940 Email: pkrol@aescap.com Strawinskylaan 1525 1077 XX Amsterdam The Netherlands
