RetinAI on a fast-paced growth course

RetinAI has developed a data management platform, Retinai Discovery®, to process health data at scale across imaging platforms and devices. With Discovery healthcare professionals can navigate multi-modal imaging data, compute AI-based imaging biomarkers and track patients over time for some of the most common forms of eye diseases through a web browser. RetinAI’s tools also support clinical diagnostic workflows, patient monitoring & adherence, and multi-device data exchange in the cloud.

Launched in 2019 and originally used in a research setting, the ‘Retinai Discovery’ platform was certified as a medical tool in the European region in 2020, making its way into ophthalmic clinics to support physicians during routine medical care. Since then, the platform has registered >100 users comprising researchers, pharma companies, clinics and hospitals –including some of the largest hospitals in Switzerland. Other users stem mainly from European Union and the US.

Financially, the company stands on stable ground. In addition to its growing revenues, amounting to CHF >1 million so far this year, the startup has received a total of CHF 3 million in dilutive and non-dilutive capital, which includes funding from Venture Kick, and support from the Standortforderung of the Canton of Bern (Economic Development Agency in Canton Bern).

Ongoing partnership with Novartis
Building on their successful pilot projects, RetinAI and Novartis entered a non-exclusive multi-year collaboration in December 2020. The joint project aims to employ RetinAI’s IT solutions and artificial intelligence tools in a multi-centre international phase IV clinical study involving patients with neovascular age-related macular degeneration (nAMD). The study runs in numerous European countries and Canada, involving more than 500 patients. Further projects will be announced soon.

Innosuisse coaches bring expertise and network
RetinAI joined the CTI/Innosuisse startup coaching program in 2017, making it eligible to receive vouchers for coaching services from Innosuisse accredited coaches. Thanks to the support of its coaches, Andreas Schultze and later Heiko Visarius, the team acquired entrepreneurial skills and expanded its network, which contributed to maintaining its fast-paced customer acquisition and further successes. “At the time of joining the Innosuisse program, my two co-founders and I were scientists with limited startup experience; however, the program exposed us to an ecosystem of experts that guided us through the multiple insights that are required to create a successful company in Switzerland,” remarked Carlos Ciller, CEO of RetinAI.

The receipt of the Innosuisse Certificate, conferred as a seal of maturity upon completing the core coaching program, gives the company further validation for the team’s efforts in making data management more effortless. RetinAI’s team comprises 22 employees representing 14 nationalities.

While the company awaits certification of Discovery for use in the US, plans are underway to expand into the US market by establishing offices to grow its customer base as it caters to existing ones. “The US is a key market for us”, acknowledges Ciller. The next phase will also see RetinAI expand its platform to include AI SaMD clinical decision support modules to include an AI SaMD companion diagnostics, to support the treatment of neurodegenerative disorders (i.e multiple sclerosis, Alzheimer) and vascular conditions like Diabetes.

(Ritah Ayebare Nyakato)