January 18, 2007
NEUROPTIX ANNOUNCES SUCCESSFUL $1.6 MILLION SERIES A FUNDING ROUND
Pioneer in non-invasive early detection of Alzheimer’s through laser eye scanning continues to raise funds for ongoing commercialization and development
Acton, Massachusetts - January 18, 2007 – Neuroptix Corporation, a Massachusetts-based pioneer in the early detection of Alzheimer’s disease through non-invasive laser eye scanning, today announced that it has successfully closed its Series A funding round, for a total of $1.6 million, to help further commercialize the company’s diagnostic platform.
The investment, led by Launchpad Venture Group, is intended to support continued development of the NeuroptixTM QEL platform and diagnostic agents. Neuroptix’s technology has demonstrated successful preclinical predictive diagnostic results as the company develops its diagnostic platform – which consists of a laser eye scanning device combined with an eye drop which specifically identifies Alzheimer’s-related proteins found in the lens of the eye.
Hambleton Lord, Managing Director of Launchpad Venture Group, said, “Launchpad Venture Group and our investor syndicate is pleased to continue to support Neuroptix and its very promising predictive diagnostic technology for a destructive and complex disease like Alzheimer’s. We’re looking forward to continued technological and business development successes.”
Paul Hartung, President and CEO of Neuroptix, said, “The Neuroptix team is delighted with the outcome of our Series A funding round, which brings us closer to achieving our goal of commercializing an upcoming predictive, reliable, inexpensive and widely available test that can be performed quickly and accurately by a general practitioner in an office setting, to enable swift intervention and ongoing monitoring of patients.”
He added, “We are also very excited by recent developments, including our announcement last month of Neuroptix’s collaboration with Merck to track and monitor preclinical and clinical disease progression and treatment of Alzheimer’s, using our technology. Things are moving along very quickly for the company, and we expect great things in the coming year.”
Participants in this financing included Launchpad Ventures, Maine Angels, and Quan Ventures (Geneva, Switzerland), a group of international investors.
About Launchpad Venture Group
Launchpad Venture Group is a Boston-based angel investment group that provides funding to early-stage companies. We are looking for innovative, technology-driven startup companies addressing a significant market opportunity where our investment can make a difference.
Today, Launchpad has over 60 active investors. Members come from a variety of backgrounds and professions, including the technology, financial and service communities. As a group, we are well connected to potential customers, service providers, partners and future sources of financing.
About Neuroptix Corporation
Founded in 2001, Neuroptix develops, manufactures and distributes state-of-the-art products for extremely sensitive measurements of biophysical changes in the eye, including non-invasive instruments for diagnosis and monitoring Alzheimer's disease undergoing clinical development. Adaptable and innovative, Neuroptix’s products are designed for a variety of research environments including academic and pharmaceutical laboratories. Neuroptix is also developing diagnostic agents for application in screening tests for Alzheimer’s disease and prion diseases. For more information, contact firstname.lastname@example.org or visit the web site at www.neuroptix.com.
# # #