NeoVista

About NeoVista

NeoVista, Inc. operated as a medical device company with a specific focus on developing treatments for wet age-related macular degeneration (AMD), a primary cause of vision loss in older adults. Founded in 2002 and emerging from the Innovation Factory device incubator, the company was based in Newark and Fremont, California.

The company's core technology centered on a novel, one-time surgical procedure involving epiretinal brachytherapy. This approach utilized a proprietary, pen-sized device to deliver a targeted dose of strontium-90 beta radiation directly to the abnormal, leaking blood vessels in the retina that characterize wet AMD. The key differentiator of this therapy was its precision, aiming to treat the lesion without damaging surrounding healthy tissue, such as the lens or optic nerve. The procedure was developed as an adjunct or alternative to the prevailing standard of care, which required frequent and indefinite intraocular injections of anti-VEGF drugs.

NeoVista's business strategy involved rigorous clinical trials to secure regulatory approval in major markets. The company initiated multiple studies, including the pivotal Phase III CABERNET trial, to evaluate the safety and efficacy of its device, often in combination with anti-VEGF therapies. The company successfully obtained CE Mark approval in 2008, which permitted commercialization of its device across the European Union. However, despite its efforts and promising early clinical results, the company ultimately failed to secure FDA approval in the United States and is now considered a deadpooled entity.

Throughout its operational history, NeoVista secured significant venture capital funding, raising approximately $114 million over several rounds from a consortium of prominent healthcare investors. Key financial backers included EW Healthcare Partners, Versant Ventures, The Carlyle Group, MPM Capital, SV Life Sciences, and Accuitive Medical Ventures. These substantial investments enabled the company to pursue extensive research, development, and clinical programs, including multinational trials.