Baltimore medical device startup Vasoptic Medical Inc. has raised $250,000 from the Abell Foundation Inc. to continue development of its eye imaging technology.
The new funding adds to Abell’s previous $250,000 investment and will serve as a bridge to the larger Series A round Vasoptic plans to raise later this year, said Vasoptic CEO M. Jason Brooke.
The money will support Vasoptic as it embarks on the first human clinical trial of its eye imaging technology. A human trial is an important step in the path to commercialization and, with positive results, will help Vasoptic attract investors for its Series A round.
Vasoptic is developing eye imaging technology that can be used to help doctors detect certain eye conditions, such as diabetic retinopathy, a condition that can lead to vision impairment and blindness among diabetics if untreated. Vasoptic’s technology is designed to allow doctors to examine a patient’s retina without having to dilate the pupil or add dye and could therefore be more readily used at primary care centers, pharmacies and clinics.
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