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Notal Vision Signs $2m Outsourcing Deal with Sanmina-SCI Notal Vision has developed a early diagnosis and monitoring system for age-related macular degeneration (AMD), a leading cause of vision loss.
Aviva Mishmari 8 Jun 03 15:21 Israeli start-up Notal Vision has signed a $2 million a year manufacturing agreement with Sanmina-SCI Israel to make medical devices. Sanmina-SCI Israel is a subsidiary of Sanmina-SCI (Nasdaq:SANM). This is Notal’s first outsourcing agreement. Sanmina-SCI Israel will make Nortal’s PHP device, while Notal will accompany the product development process through its delivery and installation with the customer. Notal has developed a early diagnosis and monitoring system for age-related macular degeneration (AMD), a leading cause of vision loss. The product, called PHP, is designed to provide ophthalmologists and clinics a simple early diagnostic test in order to halt or slow the disease. Notal Vision completed a $4 million second financing round in January 2003. Investors in the company include Elron Electronic Industries (Nasdaq: ELRN; TASE:ELRN), Jerusalem Global Ventures’ life sciences Innomed fund, and private investors. Notal raised $1.6 million in first financing round. Notal has a strategic marketing agreement with Carl Zeiss Meditec, one of the world’s largest makers of optical equipment. The company's founders are two ophthalmologists, Dr. Yair Alster, M.D. and Dr. Barak Azmon, M.D., of Tel Aviv Sourasky Medical Center. Based in Tel Aviv, Notal has 14 employees. Published by Globes [online] - www.globes.co.il - on June 8, 2003 |
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