Skyview Ventures’ Investment Accelerates Pr3vent’s Development of Breakthrough Eye Screening Diagnostic Service for Newborns
Skyview Ventures http://www.skyviewcapital.com/home/ventures/, the early and growth stage investment arm of global private investment firm Skyview Capital, LLC, has completed its seed round investment in Pr3vent, Inc. (“Pr3vent”). Pr3vent is a Palo Alto, California-based healthcare technology company founded by noted medical field veterans Jochen Kumm, PhD and Darius M. Moshfeghi, MD.
Further expanding Skyview Ventures’ interests in disruptive biotechnology companies, the seed round financing will accelerate Pr3vent, Inc.’s development of the company’s revolutionary eye screening diagnostic service designed expressly for newborns.
Skyview is joined in the investment by Phillip Sarofim and his private equity/venture capital firm Trousdale Ventures, LLC (formerly PS Ventures). The joint investment by Skyview Capital and Sarofim’s Trousdale Ventures in Pr3vent marks the continuation of the two firms’ collaboration with select start-up and first phase companies.
Pr3vent’s breakthrough technology introduces an Artificial Intelligence algorithm that provides early diagnosis and intervention to help allow for eye problems to be more effectively treatable by existing modalities.
The investment in Pr3vent marks Skyview’s eighth venture investment since launching the firm’s asset class in January 2017, signifying its aggressive and robust activity within this sector to date, and further aligning it with the firm’s deep expertise in technology and biotechnology, software, and differentiated consumer products and solutions. Additional Skyview Ventures early and growth stage investments include KangarooTime, HopSkipDrive, BuyitInstalled, Kitul SuperCoffee, SilkTech, and OnPoint Global.
“We are very excited to partner with Darius and Jochen and help bring this remarkable, potentially life enhancing diagnostic tool to the forefront of pediatric healthcare. It has long been common practice for immediate newborns to be screened for hearing, and now as a direct result of the successful research by Pr3vent principals, Dr. Kumm and Dr. Moshfeghi, it is finally possible to screen for vision when infants are first born as well. We see the Pr3vent technology platform as a true game-changer in healthcare diagnostics,” said Alex Soltani, Chairman and Chief Executive Officer of Skyview.
“I am pleased to join side by side with Skyview Capital in completing our Pr3vent investment. The work of principals Dr. Kumm and Dr. Moshfeghi is truly groundbreaking and has a tremendous potential of impacting the eye health of infants worldwide,” said Phillip Sarofim, President and Chief Executive Officer of PS Ventures.
“We are excited to partner with Skyview and take Pr3vent to the next level. Pr3vent’s AI screening platform will improve health outcomes first in newborns and then in other healthcare use cases,” said Dr. Kumm, Chief Executive Officer of Pr3vent.
“We are thrilled to have Skyview Capital join as our first institutional investor. Their knowledge and contacts in the software and cloud services sector complement our strengths in deep learning, pediatric eye diseases, and the screening market. We hope to leverage our combined expertise for operational and strategic advantage,” said Pr3vent partner Dr. Moshfeghi.
Dr. Kumm has worked in computation and AI at the Stanford Genome Technology Center, IBM Watson Life Sciences, insightAI, Pathogenica, and Roche Pharma. He has a BA from Harvard and a PhD in Biological Sciences from Stanford.
Dr. Moshfeghi is the Director of Retina at the Byers Eye Institute, Horngren Family Vitreoretinal Center, Stanford University School of Medicine. His career has focused on expanding care to pediatric eyes using telemedicine. He currently serves on the Telemedicine Working Group for the American Academy of Ophthalmology. He serves on several corporate boards including 1800 Contacts, dSentz, and Promisght. He leads the Scientific Advisory Board for Visunex Medical Systems, Co. Ltd which makes a pediatric camera used for pediatric eye screening.
About Skyview Ventures
Skyview Ventures is the venture capital initiative of global private investment firm Skyview Capital, LLC. Skyview Ventures partners with talented entrepreneurs, investing in early stage, disruptive businesses, where the Skyview team can leverage industry experience, its vast professional network, and its operational and financial wherewithal. Current areas of focus include Digital Media, IoT, Augmented and Virtual Reality, Telecom and Software, Social Media, Fintech, HealthTech, Biotech and Consumer Products. To learn more, please visit www.skyviewcapital.com/ventures.
About Skyview Capital, LLC
Skyview Capital, LLC is a global private investment firm headquartered in Los Angeles, California, which specializes in the acquisition and management of mission critical enterprises in the areas of technology, telecommunications, business services and manufacturing. By leveraging its operational resources and financial acumen, Skyview systematically enhances the long-term sustainable value of the businesses it acquires. To date, Skyview has successfully completed more than 30 transactions within its target market verticals. To learn more, please visit www.skyviewcapital.com.
Trousdale Ventures, LLC
Trousdale Ventures, LLC Ventures is a privately-held investment firm with an ownership portfolio that encompasses a variety of companies involved in technology, IT management, food manufacturing, lifestyle consumer products, entertainment and child development products.
About Pr3vent, Inc.
Pr3vent, Inc. is a healthcare IT company currently developing Artificial Intelligence and Machine Learning screens for ophthalmic newborn conditions. The Company’s [patented] algorithms and screening service is being developed for applications in newborn eye screening. More information on the Palo Alto, CA based Pr3vent, Inc. can be found at www.pr3vent.com.
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CONTACT: |
(For Skyview Capital, LLC and Trousdale Ventures) |
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SSA Public Relations |
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Steve Syatt |
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steve@ssapr.com |
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(818) 222-4000 |