Eyenuk Reports Strong 2021 Business Growth

Upcoming Webinar Series to Feature Customer Clinical Successes

Woodland Hills, California, UNITED STATES


LOS ANGELES, May 12, 2021 (GLOBE NEWSWIRE) -- Eyenuk, Inc., a global artificial intelligence (AI) medical technology and services company and the leader in real-world applications for AI Eye Screening, today announced strong business growth even as the COVID-19 pandemic is putting pressure on the healthcare systems worldwide.

Eyenuk achieved significant business progress during the first quarter of 2021, which included the following highlights:

  • Clinical adoption among existing users grew significantly. Q1 2021 clinical adoption surpassed that of the entire 2019 and also the first 10 months of 2020. Since August 2020, one customer sustained a monthly volume of at least 2,000 AI tests.
  • Sales and business development efforts yielded success. Q1 revenue reached the combined revenue of 2020. Q1 committed customer orders, the leading indicator of commercial momentum, surpassed total 2020 customer orders by 68%.
  • Eyenuk signed a commercial collaboration agreement with a global pharmaceutical company focused on Eyenuk’s AI offerings and the execution planning has begun.
  • In U.S., the Company expanded its customer base to more than 25 clinical locations. This strong U.S. growth was supported by news related to the Center for Medicare and Medicaid’s (CMS) coverage for CPT code 92229 (imaging of retina for detection or monitoring of disease; point-of-care automated analysis and report, unilateral or bilateral). Since the CMS announced the $55.66 national reimbursement fee for hospital outpatient use of CPT 92229, multiple Medicare Administrative Contactors (MACs) have decided similar reimbursement fees for physician office use of this CPT code.
  • In Canada, a national clinical organization committed to deploying the EyeArt automated AI system nationwide, and Eyenuk began training and deployment planning with this clinical partner.
  • Eyenuk team launched an improved AI platform that further streamlines the clinical workflow and enables tighter integration with imaging devices. Eyenuk team also launched a comprehensive, secure, web-based platform for archival, review, and communication of retinal images and AI reports, enabling convenient access for clinician users. Furthermore, Eyenuk users in German-speaking and Spanish-speaking countries can now generate clinical results in their local languages.

“We are pleased and encouraged by our Q1 business progress in key markets around the world, especially during the challenging environment impacted by COVID-19,” said Kaushal Solanki, Ph.D., founder and CEO of Eyenuk. “Our business momentum continues to be strong in the U.S. and key global markets, and we expect to announce more exciting news throughout 2021.”

Eyenuk has created a 2021 Webinar Series to feature clinical successes from its expanding customer base. Upcoming webinar events include:

  • Community Eye Screening in the Age of COVID-19, to be presented by the Wagner Macula and Retina Center on Thursday, May 20 from 5 p.m. – 6 p.m. EDT. Register at www.eyenuk.com/webinar
  • Leveraging AI for Community Based Eye Screening in Low Resource Areas: the Armenian Experience, to be presented by the Armenian EyeCare Project on Tuesday, June 8, 11 a.m. -12 p.m. EDT.

About the EyeArt® AI System
The EyeArt AI System provides fully automated DR screening, including retinal imaging, DR detection based on international clinical standards and immediate reporting, in a single office visit during a diabetic patient’s regular exam. Once the patient’s fundus images have been captured and submitted to the EyeArt AI System, the DR detection results are available in a PDF report in less than 30 seconds.

The EyeArt AI System was developed with funding from the U.S. National Institutes of Health (NIH) and is validated by the U.K. National Health Service (NHS). In addition to US FDA 510(k) clearance, the EyeArt AI System has CE marking as a class 2a medical device in the European Union and a Health Canada license. It is designed to be General Data Protection Regulation (GDPR) and Health Insurance Portability and Accountability Act of 1996 (HIPAA) compliant.

EyeArt’s FDA-cleared indications for use in the U.S.: EyeArt is indicated for use by healthcare providers to automatically detect more than mild diabetic retinopathy and vision-threatening diabetic retinopathy (severe non-proliferative diabetic retinopathy or proliferative diabetic retinopathy and/or diabetic macular edema) in eyes of adults diagnosed with diabetes who have not been previously diagnosed with more than mild diabetic retinopathy. EyeArt is indicated for use with Canon CR-2 AF and Canon CR-2 Plus AF cameras in both primary care and eye care settings.

VIDEO: Learn more about the EyeArt AI Eye Screening System for Diabetic Retinopathy

About Eyenuk, Inc.
Eyenuk, Inc. is a global artificial intelligence (AI) medical technology and services company and the leader in real-world AI Eye Screening for autonomous disease detection and AI Predictive Biomarkers™ for risk assessment and disease surveillance. Eyenuk is on a mission to screen every eye in the world to ensure timely diagnosis of life- and vision-threatening diseases, including diabetic retinopathy, glaucoma, age-related macular degeneration, stroke risk, cardiovascular risk and Alzheimer’s disease. Find Eyenuk online on its website, Twitter, Facebook, and LinkedIn.

Eyenuk, Inc. Contact
Frank Cheng, President & CCO
frank.cheng@eyenuk.com
+1 818 835 3585