Michelson Diagnostics, the UK based
medical device company focused on the development of multi-beam Optical
Coherence Tomography (OCT) technology, has announced the first closing of its
Series A2 Financing round, which raised $ 3.25 million from existing investors.
The funds will be used for several purposes
including expanding OCT-based VivoSight 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), the commonest skin malignancy. VivoSight is a
medical imaging system, using multi-beam OCT technology which can
non-invasively view all the layers of the skin in great detail.
The Company will also invest further in
the development of a compact, more portable second generation VivoSight System
with an anticipated lower cost of manufacture and enhanced functionality. Part
of the monies raised will be used to initiate US market access with a planned
pilot clinical study. The Company believes that the US is the largest single
market for the VivoSight system.
Orpington, Kent, UK