How RetiSpec wrote its own success story

The Toronto startup developed tech that can catch early indications of Alzheimer’s with a simple eye scan. But it struggled to get the word out about this potentially game-changing tool. Here’s how MaRS helped.

It’s easy to see how RetiSpec could be a game-changer for dementia. Co-founded by biomedical engineer Eliav Shaked in 2016, the Toronto-based medtech company has developed a non-invasive way to detect neurodegenerative diseases such as Alzheimer’s years before symptoms are apparent. By using AI to identify telltale signs, RetiSpec’s platform is able to transform a basic retinal scan into a source of vital information about brain health.

While there is no cure for Alzheimer’s, experts agree that the earlier it’s diagnosed, the likelier it is that interventions will lead to better outcomes. But initial signs can be hard to spot, and available therapies are limited to people in early stages of the disease. Given the backlog in North American healthcare systems, a person might wait months or even years before being seen by a specialist. “There needs to be a way to identify who should be prioritized in the system so they can access treatment faster,” says Shaked.

RetiSpec’s tech could revolutionize this process. But as the company worked to clear the necessary regulatory and testing hurdles, it was having a hard time raising awareness about its solution. “When you’re a tech company, you have outstanding engineers and scientists, but those things generally don’t align very well with strong communication,” says Catherine Bornbaum, RetiSpec’s chief business officer.

Making connections

MaRS had long been part of RetiSpec’s orbit. When Shaked first moved to Toronto from Israel, he made a habit of working in the atrium in the MaRS Centre: “I was just trying to absorb the Canadian innovation ecosystem,” he says. Eventually, the company established a more concrete footing in the MaRS startup community, working with the market intelligence and marketing teams to gain insights and identify important contacts.

During the Collision tech conference in 2023, senior manager of media relations Amanda Whalen invited RetiSpec to a mixer with media and ecosystem stakeholders, and helped the team prepare before the event. “As scientists, you’re trained to provide explicit responses that are scientifically accurate, but journalists have to build a narrative — they don’t necessarily need the whole history of pathology,” explains Bornbaum. “Amanda worked with us to help us explain the complexity of our technology in bite-sized ways.”

Honing the strategic messaging

From there, RetiSpec began refining its comms strategy — with the help of the MaRS PR team. Whalen landed stories in the Wall Street Journal and Global News and coached Bornbaum and Shaked on how to tailor their messaging to connect with the outlets’ audiences. And when the company was gearing up to announce their formidable $13.8-million Series A raise, Whalen talked them through how to follow through on an exclusive pitch with a media contact.

“Amanda is great at helping us get the right information to the right audience at the right time. She helps us connect the dots and communicate our intention so that our message lands in the way that we hoped it would,” says Bornbaum.

Seeing results

According to Bornbaum, the MaRS MarComm team has been instrumental in opening doors — to morning television, for instance, where viewers learned what they might expect if they were to ask for one of RetiSpec’s scans at their ophthalmologist’s office. And to BNN Bloomberg, where Shaked chatted about the challenges of raising capital.

“The influx we see on our website is unbelievable,” says Bornbaum. “Like, the Wall Street Journal? Oh my gosh — if our website could have crashed, it probably would have.”

While the RetiSpec team appreciates the tangible elements that have come from this collaboration — the media coverage generated significant in-bound requests from eye care professionals and memory specialists — and recognizes how increased exposure boosts investor confidence, Bornbaum is particularly struck by a more qualitative aspect of the relationship with MaRS. “We’ve worked with a lot of contractors, but this never feels transactional,” she says. “The MaRS team is deeply invested in helping us accurately shape our message — I was blown away by the level of care.”

What’s next

RetiSpec is preparing to launch its pivotal study, which it will submit to Health Canada and the USFDA for approval — and from there, the company is eager to bring its solution to market. “I think it’s going to be a very exciting year for us,” Bornbaum says.

Retispec

Founded: 2016
Sector: Life sciences
Services: Government relations, strategic communications, PR services