Early-stage medical device company Vasoptic Medical Inc. is conducting tests on a device to detect and prevent a progressively worsening eye condition that leads to blindness.
The tests, being held at the Johns Hopkins Wilmer Eye Institute, are required for federal Food and Drug Administration approval. When done in 2014, the Columbia company will seek FDA clearance to market and sell the device.
CEO and general counsel M. Jason Brooke estimates it will cost $7.5 million to bring the device to market. The federal National Institute of Health last year awarded the team a $225,000 development grant. The company next month will apply for a $1 million to $1.5 million NIH Small Business Innovation grant, which is intended to help speed commercialization of promising technology.
For full story click here.