New Venture Targets Global Rollout of AI-Powered Eye Diagnostics

A new AI-driven medical technology company, Cascader Limited, has launched with the backing of Moorfields Eye Hospital, the University College London (UCL) Institute of Ophthalmology (IoO), and Topcon Healthcare. Based in London, the venture aims to fast-track the global deployment of diagnostic algorithms for eye diseases and potentially systemic health conditions through artificial intelligence. UCL Business (UCLB), the commercialisation company for UCL and its partner hospitals, was also instrumental in the set-up of the new venture.

Cascader brings together deep clinical research expertise from Moorfields and UCL IoO with Topcon Healthcare’s international scale and imaging technology footprint. The goal is to move powerful diagnostic algorithms, currently used only in research, into real-world clinical use both in the UK and globally.

Its initial focus will be on macular diseases such as age-related macular degeneration (AMD), a leading cause of irreversible vision loss that affects one in eight people over the age of 60. This builds on landmark work led by Moorfields and UCL IoO, including the 2016 collaboration with Google DeepMind and the development of RETFound, the first foundation model in ophthalmology, published in Nature in 2023.

Cascader’s long-term mission is to develop a portfolio of AI tools to support earlier and more accurate detection of disease across the full spectrum of eye care and to further advance Oculomics as a foundation for precision medicine.

The collaboration also marks a major advance in oculomics, a rapidly growing field using retinal imaging to uncover early signs of broader systemic diseases like dementia, cardiovascular disease, and neurodegeneration.

Pearse Keane, consultant ophthalmologist at Moorfields Eye Hospital and professor of artificial medical intelligence at the UCL Institute of Ophthalmology, will be chief medical advisor of the new company, and Peter Thomas, consultant ophthalmologist and chief clinical information officer at Moorfields Eye Hospital, will be its chief executive officer. 

Cascader Retinal Image Chief executive Peter Ridley said: "We are proud to support the founding of Cascader. This new venture represents the next step in our commitment to translating world-class clinical research into tangible benefits for patients and the NHS."

Ali Tafreshi, Chief Executive Officer, Topcon Healthcare: “Topcon is thrilled to partner with Moorfields and the UCL Institute of Ophthalmology on this groundbreaking initiative. Cascader reflects our shared vision of how AI and ocular data can reshape eyecare and enable new frontiers in precision medicine. This collaboration supports the broader mission of connecting ocular data to better health outcomes – both within eyecare and beyond.”

Mark Fisher, Associate Director at UCLB: “UCLB is delighted to have played a role in the establishment in this new company alongside Moorfields Eye Hospital NHS Foundation Trust and Topcon Inc.  Partnering with industrial leaders in the new area of oculomics should accelerate routes to market for AI technologies and break down the barriers of AI applications in healthcare. It exemplifies the benefits of close relationships between academics and clinicians in creating technologies that will bring major benefits to patients as a result of earlier diagnosis in a range of diseases.”

Professor Pearse Keane, Chief Medical Advisor and co-founder of Cascader; consultant ophthalmologist at Moorfields Eye Hospital; professor of artificial medical intelligence at UCL IoO: “Cascader is uniquely positioned at the intersection of clinical excellence, academic leadership, and technological innovation. We are building on more than a decade of research into AI and Oculomics – fields in which we’ve been proud to lead globally – and are now focused on delivering those discoveries into everyday clinical care.”

Dr. Peter Thomas, Chief Executive Officer and co-founder of Cascader; consultant ophthalmologist at Moorfields Eye Hospital: “We have a huge opportunity to reshape how eye care is delivered by bringing AI to frontline services – whether in hospitals, clinics, or the high street. Cascader will play a key role in translating groundbreaking research into real-world tools that support both patients and professionals.”

Ege Ilicak, Chief Operating Officer and co-founder of Cascader: “At Cascader, our mission is to turn cutting-edge research into clinically robust, scalable solutions that improve lives. With deep experience in medical engineering, we’re focused on ensuring that our AI-driven tools meet the highest quality and regulatory standards, while integrating seamlessly into real-world workflows—supporting professionals and empowering patients.”

Cascader will also draw on the INSIGHT Health Data Research Hub at Moorfields, which provides access to one of the world’s most comprehensive retinal datasets. This includes the infrastructure that powered the development of RETFound, a foundational model for retinal image analysis.