DIAGNOSTIS AND TREATMENT: Funding to further bio-optics products

Three start-up companies developing medical devices have raised new funding to support product development and commercialization.

Electro-Optical Sciences, Inc.

Electro-Optical Sciences (Irvington, NY), developer of MelaFind, a noninvasive, point-of-care instrument to assist in the early diagnosis of melanoma, raised approximately $11.8 million. The money was generated by a stock sale to fund continued development and precommercialization activities. The company reports that MelaFind has been studied on approximately 6000 skin lesions from approximately 4500 patients at more than 30 clinics. In these tests, MelaFind missed fewer melanomas and produced fewer false positives than the skin-cancer specialists who participated in the studies. MelaFind combines advanced imaging technology with specialized algorithms.

Innolume

Innolume (Dortmund, Germany) says it has secured a Series C round of financing for €8.6 million (US$12.6 million). The funds will help further two major initiatives, including enhanced production and marketing of its quantum-dot laser products for medical and other applications. Juergen Kurb, CEO of Innolume, said, “this funding will also enable Innolume to rapidly introduce to the market novel quantum-dot-based devices aimed at specific high-value medical applications.” Innolume provides quantum-dot laser diodes and modules covering the 1000 to 1320 nm spectrum.

Michelson Diagnostics

Michelson Diagnostics (MDL; London, U.K.) credits successful results and growing sales with attracting an additional €600,000 (US$1.1 million) from investors. The funds will help MDL complete development of its hand-held in vivo optical coherence tomography (OCT) probe. The device is designed for cancer diagnosis and treatment, and uses OCT to provide real-time images of sub-surface tissue at near-cellular resolution without tissue removal.

“We are very excited about the breakthrough in image quality that this system offers,” said Mr. Colin Hopper, senior maxillofacial surgeon at University College Hospital, London. “OCT could revolutionize the surveillance of precancers in the mouth and eliminate the waiting time for biopsy results. It should also minimize surgery through improved disease mapping. This will provide cost effective treatments with improved cure rates.” –BG

Get All the BioOptics World News Delivered to Your Inbox

Subscribe to BioOptics World Magazine or email newsletter today at no cost and receive the latest news and information.

 Subscribe Now
Related Articles

NIR spectroscopy intravascular imaging system receives $25M investment

Medical device maker Infraredx has received a $25 million equity investment from Nipro Corporation, which builds on an exclusive agreement between the two companies for distribution of Infraredx's ...

OCT pioneer Fujimoto selected as 2014 IEEE Photonics Award winner

James Fujimoto, the Elihu Thomson Professor of Electrical Engineering at the Massachusetts Institute of Technology (MIT), has been selected for the 2014 IEEE Photonics Award.

OCT combo system receives FDA clearance, begins shipping worldwide

Ophthalmic device maker Optovue has received FDA 510(k) clearance for its iFusion combination system, which pairs the company's iVue spectral-domain optical coherence tomography (SD-OCT) system and...

OCT symposium emphasizes key applications

Overviews of biomedical imaging in general, and optical coherence tomography (OCT) in particular, kicked off the first international symposium hosted last week by the Center for Biomedical OCT Rese...

BLOGS

Neuro15 exhibitors meet exacting demands: Part 2

Increasingly, neuroscientists are working with researchers in disciplines such as chemistry and p...

Why be free?

A successful career contributed to keeping OpticalRayTracer—an optical design software program—fr...

LASER Munich 2015 is bio-bent

LASER World of Photonics 2015 included the European Conferences on Biomedical Optics among its si...

White Papers

Understanding Optical Filters

Optical filters can be used to attenuate or enhance an image, transmit or reflect specific wavele...

How can I find the right digital camera for my microscopy application?

Nowadays, image processing is found in a wide range of optical microscopy applications. Examples ...

CONNECT WITH US

            

Twitter- BioOptics World

Copyright © 2007-2016. PennWell Corporation, Tulsa, OK. All Rights Reserved.PRIVACY POLICY | TERMS AND CONDITIONS