NOVAI: A LEAP IN DARC
ExSight Ventures is pleased to announce our recent investment into Novai, a cutting-edge biotech company developing innovative solutions for the detection and treatment of retinal diseases. At the heart of Novai's technology is DARC (Detection of Apoptosing in Retinal Cells), a revolutionary method for detecting early signs of apoptosis (cell death) in the retina. DARC combines an innovative patented biologic with a state-of-the-art AI algorithm that enables the identification of cellular-level disease activity. This is the first time such observations in humans have been possible using standard imaging equipment. Developed by Professor M Francesca Cordeiro at University College London through Wellcome Trust funding, DARC has the potential to revolutionize the way retinal diseases are diagnosed and treated.
Artificial intelligence has entranced the world following the launch of ChatGPT (Chat Generative Pre-trained Transformer), a chatbot launched by OpenAI last November. The italicized portions of this announcement were written using ChatGPT. AI will reshape entire industries and sectors of the economy, including biopharma and medicine.
DARC (Detection of Apoptosis in Retinal Cells) utilizes artificial intelligence in several ways:
1. Image analysis: DARC uses AI algorithms combined with retinal imaging in conjunction with optical coherence tomography (OCT) or fundus photography, to detect early signs of cell death.
2. Machine learning: DARC utilizes machine learning techniques to train its algorithms to identify patterns and features associated with cell death in the retina. This training process allows the algorithms to become more accurate over time.
3. Computer vision: DARC uses computer vision techniques to automatically identify and segment regions of the retina that are likely to contain apoptotic cells.
4. Predictive modeling: DARC uses AI-based predictive modeling techniques to predict the progression of retinal diseases and identify patients at risk of developing certain conditions.
5. Automation: DARC automates the process of detecting apoptosis in retinal cells, which can save time and reduce the risk of human error.
Overall, DARC uses AI to analyze images of the retina, identify patterns associated with cell death, and make predictions about the progression of retinal diseases. This allows for early detection of retinal diseases and potentially more effective treatment options.
ExSight's interest in AI applications for ophthalmology predates our 2017 introduction to Dr. Cordeiro and DARC, not only for diagnosing and treating ophthalmic conditions but also to expedite drug development and clinical trials. A significant portion of AI's promise is its ability to save time and increase productivity. AI could significantly improve upon today's standards in both drug development and clinical practice. AI will improve patient care and save the healthcare industry up to $360B per year. Novai's technology delivers on these promises for ophthalmology and puts the company at the forefront not only for ophthalmic disease research but for neurodegenerative research.[1]
One of the key applications of Novai's technology is in the early detection of age-related macular degeneration (AMD), a leading cause of blindness in the elderly. DARC's ability to detect early signs of cell death in the retina could lead to earlier and more effective treatment for patients with AMD, potentially preserving their vision for longer.
In addition to its applications in AMD, Novai's technology also has the potential to be used in the detection and treatment of other retinal diseases such as diabetic retinopathy, glaucoma, and retinitis pigmentosa. Nonophthalmic pipeline indications include multiple sclerosis, Alzheimer’s disease, Parkinson’s disease, and diabetes mellitus.
AMD and glaucoma are typically slowly progressing conditions that lead patients to lose their vision over time. Consequently, conducting clinical trials for these conditions is challenging due to the extended duration and associated cost. Novai's technology could reduce the time and cost of operating these trials. The company has already established partnerships with leading pharmaceutical and biotech companies and is actively growing its customer base. Investing in a revenue-generating company is rare for an ExSight investment. We could see the technology's validation with another ExSight portfolio company, ONL Therapeutics. We want to facilitate additional DARC collaborations with current and future portfolio companies.
ExSight Ventures is thrilled to be a part of Novai's journey and we look forward to seeing the impact of DARC technology on the lives of patients with ophthalmic and neurodegenerative diseases. Novai's innovative approach has the potential to change the way retinal diseases are diagnosed and treated and we are excited to be a part of this journey.[2]
Contact Novai if you’re interested in learning more or working with DARC.
[1] This is consistent with ExSight’s overall thesis, “The retina is a model for the diagnosis and treatment of the central nervous system because it is part of the brain. The confluence of the eye’s features drives rapid progress in research and the development of new treatments.”
[2] We left this unedited to display some of the shortcomings of existing ChatGPT.