Retinai

Company Overview

RetinAI is a healthcare technology company focused on optimizing and simplifying clinical, research and pharmaceutical workflows in ophthalmology through artificial intelligence and data management solutions. The company was founded in 2017 and is headquartered in Bern, Switzerland, with a US office in Boston, Massachusetts.

Products Overview

RetinAI’s main product is Discovery, an AI-powered data management and analytics platform for ophthalmology. Key features of Discovery include:

• Data collection and centralization from multiple imaging devices and formats
• AI-based image analysis and biomarker detection for retinal diseases
• Workflow optimization for clinical trials and research studies
• Collaboration tools for multi-center projects
• Real-world evidence generation

RetinAI offers different versions of Discovery tailored for:

1. Pharmaceutical/life sciences companies (Discovery UNITY)
2. Clinical trial management (Discovery for Clinical Studies)
3. Clinics and hospitals (Discovery for Clinics)

The company also provides Disease Evaluation Apps that generate automated reports on retinal diseases like AMD, diabetic retinopathy, and geographic atrophy using AI analysis of OCT scans.

Founding Team

RetinAI was founded in 2017 by:

• Carlos Ciller
• Stefanos Apostolopoulos
• Sandro De Zanet

Problem and Market Fit

RetinAI aims to address challenges in ophthalmology related to:

• Inefficient data management across multiple imaging devices/formats
• Lack of automated, quantitative analysis of retinal imaging
• Slow and manual processes in clinical trials and research studies
• Difficulty collaborating and sharing data across multiple sites/teams

The company’s AI-powered solutions fit into the growing market for digital health and AI applications in ophthalmology, addressing needs of pharmaceutical companies, research institutions, and clinical practices.

Business Model

RetinAI operates on a software-as-a-service (SaaS) model, providing its Discovery platform and Disease Evaluation Apps on a subscription basis. The company likely generates revenue through:

• Software licensing fees for its Discovery platform
• Usage-based pricing for its Disease Evaluation Apps (e.g. credits per report generated)
• Service fees for implementation, training, and support

Funding and Runway

The most recent funding information available is from May 2024, when RetinAI’s parent company Ikerian AG closed a $6.18 million Series A extension round. No other specific funding details are provided in the available material.

Competitive Landscape

While specific competitors are not mentioned, RetinAI likely competes with other companies developing AI and software solutions for ophthalmology, including:

• AEYE Health
• IDx Technologies
• Eyenuk
• Visulytix
• Thirona

RetinAI differentiates itself through its comprehensive data management platform combined with disease-specific AI analysis tools.

Customers

RetinAI works with pharmaceutical companies, research institutions, and clinical practices. Some notable customers/partners mentioned include:

• Novartis
• Isarna Therapeutics
• Boehringer Ingelheim
• Retina Consultants of America
• Stephen J. Ryan Initiative for Macular Research (RIMR)

The company claims to have 15 pharmaceutical and research customers as of 2023.

Relevant News

• June 2024: Ikerian (RetinAI’s parent company) receives EU-MDR certification for four devices, including its ophthalmology data platform and AI models.

• May 2024: Ikerian AG closes $6.18M Series A extension financing round.

• November 2023: RetinAI partners with RIMR AMD Consortium on a global retinal imaging initiative for AMD research.

• October 2023: Strategic partnership announced with Eyestem to innovate geographic atrophy clinical research.

• July 2023: Partnership formed with Retina Consultants of America to build a comprehensive US-based real-world evidence database in ophthalmology.

• April 2023: Collaboration announced with Boehringer Ingelheim to advance novel treatments for geographic atrophy using AI.