Michelson Diagnostics, an Orpington, Kent, UK-based medical device company focused on multi-beam Optical Coherence Tomography technology, held the £1.98m ($3.25m) first closing of its Series A2 Financing.
The round was led by Octopus Investments with participation from Catapult Venture Managers Ltd and London Business Angels, and other business angels.
The company intends to use the funds to expand VivoSightTM sales in Germany, where the system was launched in mid-2011 and where it is reimbursed for use in the diagnosis of non-melanoma skin cancer (NMSC), to develop a second generation VivoSight System with enhanced functionality, to initiate US market access with a pilot clinical study planned.
Founded in 2006 and led by Jon Holmes, Chief Executive Officer, Michelson Diagnostics has developed medical imaging technology, known as multi-beam Optical Coherence Tomography, which uses an advanced laser scanner to “see” into tissue with high image resolution and quality of image.
The company’s VivoSight OCT system focuses on the non-invasive diagnosis and monitoring of diseases and conditions that affect cutaneous and epithelial linings of the body including non-melanoma skin cancer (NMSC).
It has regulatory clearance in Europe, USA and Australia, for use by trained clinicians in their assessment of the patient’s medical condition.
Michelson Diagnostics currently has 18 employees and sales offices in Germany and USA.
FinSMEs
13/01/2014
Related News:
13/03/2012: Michelson Diagnostics Receives £607K Investment
03/01/2012: Michelson Diagnostics Receives £1.9M Investment