TORONTO, Aug. 15,
2024 /PRNewswire/ - MolecuLight Inc., a leader in
point-of-care fluorescence imaging, today announced the closing of
a $11.7 million Series C financing
round led by new investors Export Development Canada (EDC),
Prosegur, and Azahar. Existing investors also participated in the
round, demonstrating continued confidence in the company's growth
trajectory.
MolecuLight's fluorescence imaging devices provide clinicians
with real-time visualization of bacteria florescence in wounds,
enabling earlier detection and quantification leading to more
effective treatment resulting in improved wound healing.
MolecuLight's wound bed assessment aligns perfectly with CTP
outcomes: A study by Ai-Jalodi and colleagues demonstrates that
when the device indicates a bacteria-free wound bed, there is a
100% probability of CTP integration1, vs a skin
substitute alone. By empowering healthcare providers to make
informed decisions at the point of care, MolecuLight is helping to
improve patient outcomes and reduce healthcare costs. The new
investment will fuel MolecuLight's expansion in the US,
Canada, and EU across all care
settings, including hospital out-patient, independent wound care
clinics, podiatrists, and long-term care centers. This growth will
enable the company to reach more patients and positively impact
their lives by providing clinicians with the tools to quickly and
accurately identify and quantify bacteria that impair wound
healing, in turn improving patient outcomes.
"MolecuLight's innovative technology has the potential to
significantly improve patient outcomes and offers compelling
benefits for all healthcare system stakeholders," said Guillermo Freire, Senior Vice-President,
Mid-Market Group, EDC. "We are excited to invest in MolecuLight as
they accelerate commercialization. EDC is focused on supporting
emerging Canadian innovators in critical sectors essential for the
future. This investment reflects our belief in innovation and
progress, underscoring mission is to support Canadian companies in
their journey to become international leaders in their
sectors."
"We are pleased to invest in MolecuLight. We believe in
MolecuLight's mission to transform wound care and with their
innovative technology," said Pedro
Munoz, General Manager at Azahar. "This investment will
enable MolecuLight to accelerate its expansion efforts to more
healthcare providers worldwide."
"iGan is proud to continue supporting MolecuLight on their
journey to transform the management of wound care," said
Sam Ifergan, Chairman of MolecuLight
and Managing Director at iGan Partners.
"This financing is a testament to MolecuLight's strong market
position and the significant impact our technology is having on
patient care," said Anil Amlani, CEO of MolecuLight. "With the
support of our investors, we are well-positioned to capitalize on
the growing demand for point-of-care fluorescence imaging solutions
and deliver exceptional value to our customers."
Tungsten Advisors served as the exclusive financial advisor to
MolecuLight.
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1 Ai-Jalodi O, Sabo M, Patel K,
Bullock N, Serena L, Breisinger K, Serena TE. Efficacy and safety
of a porcine peritoneum-derived matrix in diabetic foot ulcer
treatment: a pilot study. J Wound Care. 2021 Feb
1;30(Sup2):S18-S23. doi: 10.12968/jowc.2021.30.Sup2.S18. PMID:
33573495.
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About MolecuLight
MolecuLight is the leader in in point-of-care fluorescence
imaging. Their innovative devices empower healthcare providers to
quickly and accurately detect elevated levels of bacteria in
wounds, surgical sites, and other injuries. This real-time
visualization of bacteria that is linked to infection empowers
clinicians to make informed treatment decisions. Early and
accurate detection of bacteria leads to more targeted treatment
plans. By optimizing treatment plans, MolecuLight technology helps
to accelerate healing and reduce the risk of complications. The
multi-modal device combines bacterial detection, wound measurement,
and imaging capabilities into a single tool, streamlining workflows
and improving documentation accuracy. Integrating seamlessly with
electronic medical records, MolecuLight empowers clinicians to
deliver the highest standard of care while optimizing their
workflow. For more information, please visit
www.moleculight.com.
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SOURCE MolecuLight