Vital Art and Science announced that it has retained Telos Capital Advisors as its exclusive investment banking advisor to represent the company in the sale of its myVisionTrack technology, also known as the mVT Service.
The mVT Service is an FDA cleared 510(k) Class 1 medical device providing the more than 28 million Americans suffering from age-related macular degeneration (AMD), diabetic retinopathy (DR), diabetic macular edema (DME), and other diseases affecting the center of the retina that lead to blindness the ability to actively and conveniently monitor their vision at home or while they travel, in-between office appointments. The mVT Service remotely notifies their doctor when a significant change in the patient’s vision is detected. This early detection leads to prompter office visits and possible therapy, helping patients to retain their vision longer. Patients test their vision by downloading the mVT App, available in the Apple App and Google Play Store. Patients simply register the app and follow straightforward instructions.
“Our board believes the time is right to put this technology into the marketplace. Having proven the validity, market acceptance and value of the technology, a large vision care company that already has the infrastructure in place can quickly bring the mVT Service to market and help save vision,” Mike Bartlett, President and CEO, Vital Art and Science, said in a company news release. “In our beta launch, we found the increased frequency of at-home testing resulted in earlier detection and treatment of these vision destroying diseases.”
“We hope to place the mVT Service with a pharmaceutical or medical device company as they are best positioned to educate and promote home vision monitoring to eye-care specialists with whom they have existing relationships,” Bartlett said. “Companies such as Alphabet (Google) and Apple have recently shown interest in technologies like the mVT Service since it is FDA cleared and available as a mobile app.”
The mVT service’s technology and algorithm behind the monitoring are protected by nine U.S. patents, most of which are either granted or pending in overseas markets, along with several more pending U.S. patents.