Jumpstart Portfolio Company, Amblyotech, Acquired by Novartis
Jumpstart is thrilled to announce the acquisition of another member of the 2016 portfolio, Amblyotech, by Novartis. Amblyotech, a US based digital therapeutics company, developed a novel digital technology for the treatment of amblyopia, also known as “lazy eye.” After the acquisition, Novartis intends to pursue the development and distribution of this groundbreaking solution.
“We believe Novartis is best positioned to maximize the opportunity for our amblyopia treatment to reach and help patients who suffer from this condition,” said Joseph Koziak, CEO of Amblyotech.
Amblyotech’s approach utilizes an active gaming and passive video technology with 3D glasses to train patients’ eyes to work together, yielding a therapeutic effect. The software employs a unique visual presentation, called dichoptic display, where each eye is presented with a different image using a proprietary algorithm to obtain co-operation with both eyes working together to view a full image. In early clinical studies, Amblyotech’s software demonstrated improvements in vision in both children and adults with faster onset compared to standard of care treatments.
“This acquisition speaks highly of Joe & Rob’s (founders of Amblyotech) talent and skill in building strong technology—something we recognized early on. Jumpstart is proud of the incredible progress this team made and we are excited to watch as Novartis takes their technology to new heights,” said Eller Mallchok, Managing Director of Jumpstart Foundry.
“This was Jumpstart’s first investment in digital therapies, but it will not be the last. Amblyotech offers a beautiful combination of a highly effective treatment for lazy eye delivered inside a fun and interactive game,” said Vic Gatto, CEO & Founder of Jumpstart Health Investors. “Parents and doctors like the high compliance. Kids just know it’s fun to play.”
Amblyotech is a digital therapeutics company founded by Joseph Koziak and Robert Derricotte to develop technologies originally discovered by Dr. Robert Hess. In conjunction with Ubisoft Entertainment SA, McGill University and the Research Institute of the McGill University Health Centre, Amblyotech is creating active and passive video therapies to treat amblyopia, a debilitating ocular condition that affects 3% of the global population and is a leading cause of monocular blindness.
About Jumpstart Foundry:
Jumpstart Foundry is a seed-stage healthcare innovation fund with one goal: Make Something Better. Jumpstart Foundry invests $150K in 15-20 healthcare startups from around the country each year. Jumpstart then guides and supports entrepreneurs through a systemized, step-by-step process to help each business reach success. The JSF fund has over 80 companies in its portfolio and was reported as Tennessee’s most active venture capital firm in 2019 by CB Insights.
For questions or additional information please contact:
Sydney Ergle, Brand Marketing Manager, Jumpstart Foundry