Ikerian Announces Series B Funding First close of USD 8M 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.

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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.
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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.”

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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.”

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About Ikerian AG and RetinAI Inc. US
Established in 2017, Ikerian AG (formerly RetinAI Medical AG) and its subsidiary, RetinAI U.S. Inc. (‘Ikerian’, ‘RetinAI’ and, together, ‘the company’), develops software solutions to accelerate clinical, research and pharmaceutical workflows globally using advanced machine learning and computer vision, across ophthalmology, neurodegenerative disorders, vascular conditions, and rare diseases.

Focused on the ophthalmology and optometry market, RetinAI builds tools to collect, organize and analyze health data from the eyes, enabling healthcare professionals to make the right decisions sooner in healthcare. RetinAI's international team leverages its clinical, technical, and scientific expertise to foster the transition from reactive to preventive medicine for severe eye diseases.

A commercial stage company with growing sales from RetinAI Discovery^®, RetinAI has established collaborations and partnerships with leading ophthalmology and pharmaceutical companies including RetinAI Consultants of America (RCA), Boehringer Ingelheim, J&J and Novartis.

Based in Bern, Switzerland and Boston, U.S.A., the company has raised equity finance from investors including Sanoptis, THINC Ventures arm of Topcon Healthcare, Inc, Zürcher Kantonalbank (ZKB), b2venture, Matterwave Ventures and Verve Ventures.

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‍About RetinAI Discovery^®‍

RetinAI Discovery^® (‘Discovery’) is a software platform to enable the right decisions sooner based on evidence, AI-derived insights, automation & data. Discovery is a modular and certified (FDA - 510(K) / CE - MDR) medical image & data platform that digests data, works via the web browser in the cloud, enables precision analysis with proprietary AI models and transfer of medical data linked to the patient, connecting devices, data sources & decisions in a seamless and secure manner. Discovery is the workbench for healthcare professionals throughout the entire journey of the disease, facilitating decisions for better patient care.
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About Sanoptis Ophthalmology Network

Sanoptis is the leading provider in ophthalmology services across Europe, operating more than 420 locations in Germany, Switzerland, Italy, Spain, Austria, and Greece. Their network of clinics focuses on advanced eye care, performing millions of treatments annually, including surgeries and consultations. Sanoptis collaborates with ophthalmologists, offering them growth opportunities while maintaining high standards in patient care and medical innovation. The company also invests heavily in state-of-the-art technology, ensuring their clinics are equipped with the best tools for modern ophthalmic treatments​.
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About Topcon Healthcare, Inc.

Topcon Healthcare, Inc. is part of Topcon Corporation, Tokyo, Japan. Topcon Healthcare Inc. is a leading provider of eyecare solutions whose vision is to improve access and quality of healthcare while decreasing the cost of care. To achieve this vision, we created Healthcare from the Eye™, the strategy of applying AI models to imaging data from the eye to facilitate earlier detection and better management of disease. Healthcare from the Eye™ is powered by Harmony®, a cloud-based, vendor-inclusive digital health information platform enabling a connected care ecosystem.

A truly global business, Topcon Corporation is focused on developing solutions to solve societal challenges in the mega-domains of healthcare, agriculture, and infrastructure. In healthcare, these challenges include increasing eye disease, rising medical costs, physician shortages, and unequal access to healthcare. By investing in value-driven innovations, Topcon Corporation works to help people enjoy good health and a better quality of life.

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