Eyenuk Reports Strong First Quarter 2020 Commercial Results
Preparing for Accelerated Business Growth Ahead
LOS ANGELES–(BUSINESS WIRE)–#artificialintelligence—Eyenuk, Inc., a global artificial intelligence (AI) medical technology and services company and the leader in real-world applications for AI Eye Screening™, announced today that it completed the first quarter of 2020 with encouraging business results. New business orders confirmed in the first quarter are comparable with the 12-month results for the entire 2019.
In addition to strong recurring adoption by its existing user institutions, the Company received new business orders for its EyeArt AI Eye Screening System in global markets including Europe, India, Middle East, and Latin America. In the U.S., three clinical organizations committed to adopting the Company’s EyeScreen Human+AI Eye Screening System.
“We are pleased with the accelerated business growth since Frank Cheng joined as Chief Commercial Officer. Frank is an experienced commercial leader who has strong track record in driving innovative solutions to significant revenue growth involving large-scale commercial operations,” said Kaushal Solanki, Ph.D., founder and CEO of Eyenuk. “Eyenuk team would like to salute our clinical partners who are fighting the coronavirus on the frontlines around the world, and our business partners who are finding creative ways to continue our collaborations. Our Q1 progress is just the beginning of our exciting growth journey for the rest of 2020 and beyond.”
Also in the first quarter, the Eyenuk team completed several strategic milestones, including product integration with offerings from two leading ophthalmology instrument companies, and reached definitive agreement with another ophthalmology instrument company for upcoming integration and co-marketing. Furthermore, the American Optometric Association (AOA) invited Eyenuk to participate in its Telehealth Council meeting as AOA assembled industry leaders to set future guidance for telehealth services.
About the EyeArt® AI Eye Screening System
The EyeArt AI Eye Screening System provides fully automated DR screening, including retinal imaging, DR grading on international standards and immediate reporting, in a single office visit during a diabetic patient’s regular exam. Once the patient’s fundus images have been captured and submitted to the EyeArt AI System, the DR screening results are available in a PDF report in less than 60 seconds.
The EyeArt AI System was developed with funding from the U.S. National Institutes of Health (NIH) and is validated by the U.K. National Health Service (NHS). The EyeArt AI System has CE marking as a class 2a medical device in the European Union and a Health Canada license. In the U.S., the EyeArt AI System is limited by federal law to investigational use. It is designed to be General Data Protection Regulation (GDPR) and Health Insurance Portability and Accountability Act of 1996 (HIPAA) compliant.
About the EyeScreenTM Human+AI Eye Screening System
The EyeScreen Service is a novel approach to disease detection that utilizes independent, unbiased interpretation by a human expert and a validated autonomous AI system that does not rely on humans interpreting complex assistive AI reports. After the retinal images are independently assessed by both the AI disease detection system and specialist human graders separately, an ICD-10 compliant report is sent to the physician. In the event that the AI and human graders disagree, the images are adjudicated by another highly experienced human expert.
About Eyenuk, Inc.
Eyenuk, Inc. is a global artificial intelligence (AI) medical technology and services company and the leader in real-world AI Eye Screening for autonomous disease detection and AI Predictive Biomarkers™ for risk assessment and disease surveillance. Eyenuk’s first product, the EyeArt AI Eye Screening System, is the most extensively validated AI technology for autonomous detection of DR. Eyenuk is on a mission to screen every eye in the world to ensure timely diagnosis of life- and vision-threatening diseases, including diabetic retinopathy, glaucoma, age-related macular degeneration, stroke risk, cardiovascular risk and Alzheimer’s disease. Find Eyenuk online on its website, Twitter, Facebook, and LinkedIn.
Eyenuk, Inc. Contact
Frank Cheng, Chief Commercial Officer
+1 818 835 3585