Tel Aviv's Notal Vision is about to complete its second round of financing. The company has received a $5 million term-sheet from an undisclosed strategic American group. Notal Vision develops a computerized device for diagnosing Age-Related Macular Degeneration (AMD), a deteriorating eye disease that afflicts millions of aging people primarily in Western countries. Early diagnosis of this disease enables early treatment, thus prevention of permanent vision loss.

The product is a screen-based interactive hyperacuity examination, with automatic online analysis without need for professional interpretation of the results. It is operated by either the patient or with assistance of a PC-like apparatus. This tool will allow the monitoring and treatment of patients with intermediate AMD, a condition that can lead to losing the ability to read, drive and recognize faces from as little as two months to three years.

The system will be marketed by Q2 next year. CEO Dr. Barak Azmon said that the company expects profits by the end of 2003. "We are also working on a home device for monitoring retinal problems," he adds. It will be a joint project with the Humphrey Division of Carl Zeiss Ophthalmic Systems (U.S.), with funding from the BIRD Foundation.

The company that now employs a staff of 14, was founded by Dr. Barak Azmon and Dr. Yair Alister in August 2000. To date the company has been funded by Jerusalem Global Ventures and Proseed Capital Holdings.

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