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."
Optovue, Inc., a privately-held medical device company founded in 2003 and based in Fremont, Calif., is dedicated to the development and commercialization of high-speed OCT and OCT angiography used to facilitate the diagnosis and management of eye diseases, many of which lead to permanent blindness. For more information, visit www.optovue.com.
*The AngioVue Imaging System is pending 510(k) clearance from the U.S. Food and Drug Administration.
About Delta Electronics
Delta, founded in 1971, is a major player in several product segments such as industrial automation, displays, and networking. Delta strives to provide innovative, clean and energy-efficient solutions and focuses on addressing key environmental issues such as global climate change. As an energy-saving solutions provider with core competencies in power electronics and innovative research and development, Delta's business domains include Power Electronics, Energy Management, and Smart Green Life. Delta has 114 sales offices, 56 R&D centers and 30 manufacturing facilities worldwide.
Since 2011, Delta has annually been selected as a member of Dow Jones Sustainability™ World Index (DJSI World). In 2014, Delta was ranked by CDP (formerly the Carbon Disclosure Project) on the highest A-level of the Climate Performance Leadership Index (CPLI), and is the only company from nearly 2,000 listed companies in Greater China to make the CPLI list. For more information, please visit: www.deltaww.com.