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Optovue Announces USD30 Million Private Equity Investment Agreement with Delta to Fuel Continued Innovation
Funds Will Allow Expansion of Advanced Technology for Sight-Threatening Diseases
FREMONT, Calif. (Nov. 11, 2015)—Optovue, Inc., a global leader in the development and commercialization of optical coherence tomography (OCT) and OCT angiography technology for the eye care market, today announced it has executed an agreement to receive USD30 million in private equity funding from Deltronics (Netherlands) B.V., a subsidiary of Delta Electronics, Inc., a global leader in power and thermal management solutions. The funding will enable Optovue to expand its current imaging platforms, and to further the commercialization and development of applications for the AngioVue™* Imaging System, its newest innovation that embodies OCT angiography. This long-term investment also allows Delta to extend its strategic reach into the healthcare industry.
“AngioVue technology has given physicians, for the first time, the ability to visualize blood vessels in the individual layers of the retina, without injections of dye,” said Jay Wei, founder and chief executive officer for Optovue. “This visualization information provides physicians with a compelling new way to manage patients affected by wet age-related macular degeneration, a leading cause of blindness. We expect similar contributions to the management of diabetic retinopathy, the leading cause of blindness in diabetic patients.” The AngioVue™ Imaging System, introduced to markets outside of the United States late last year, has met with widespread and enthusiastic adoption, and is now in daily clinical use at over 400 sites. With applications including retina, glaucoma and anterior segment, AngioVue technology has been the focus of over 50 peer-reviewed scientific publications. “Delta’s global footprint and innovation capabilities align well with Optovue’s long-term development plans. With this funding we will further develop AngioVue clinical applications and other promising technologies,” continued Wei. “Delta is committed to investing in business segments that offer significant growth potential in industries that have a broad influence on the quality of life for people around the world, such as the medical equipment sector,” said Yancey Hai, chairman of Delta Electronics. “Our investment in Optovue will create synergies that support the development and global commercialization of technologies that allow physicians to better diagnose and manage diseases that lead to blindness in millions of people worldwide.”
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