FOR IMMEDIATE RELEASE
Columbia, MD (November 29, 2012)—Vasoptic Medical, Inc., a Maryland-based start-up medical device company, today announced the closing of a $75,000 convertible note with the Maryland Technology Development Corporation (TEDCO) through the Maryland Technology Transfer and Commercialization Fund (MTTCF). The funds will support the development of a low-cost, mobile solution for the early detection of diabetic retinopathy—a condition that afflicts nearly 1 in 3 diabetes patients and results in severe vision impairment and blindness.
“MTTCF was established to enable companies to achieve early technical milestones that are critical to move technologies further along the commercialization pathway and lead to follow-on investments,” said Rob Rosenbaum, President and Executive Director of TEDCO. “The technology being developed at Vasoptic Medical shows incredible promise and we are excited to support its development at this early stage.”
“We are honored to receive the support of TEDCO and the MTTCF funds, which will enable us to move our imaging technology to the clinic,” said M. Jason Brooke, MSE, JD, co-founder, COO, and VP of R&D. “Through the support of TEDCO, Vasoptic Medical will be poised to commercialize a novel mobile solution for the early diagnosis of a medical condition that significantly impacts millions of diabetics around the globe.”
Vasoptic Medical recently established its headquarters in Columbia, Maryland at the Howard County Economic Development Authority’s Maryland Center for Entrepreneurship.
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About Vasoptic Medical, Inc.
Vasoptic Medical, Inc. is an early-stage, start-up company with a mission to advance healthcare through innovation in medical diagnostics. Headquartered in Columbia, Maryland, Vasoptic Medical is committed to creating and delivering value to the patient and the healthcare system.
For more information, please visit www.VasopticMedical.com or contact:
Jason Brooke, MSE, JD
COO, GC & VP of R&D