Michelson Diagnostics raises £2.5m in Series B funding led by Smith & Nephew
The medical device company secured the backing of Smith & Nephew and Kent County Council to expand commercial reach and launch new imaging systems.
Michelson Diagnostics is a medical device company that develops multi-beam Optical Coherence Tomography technology for tissue imaging.
Michelson Diagnostics has secured £2.5m in the first tranche of its Series B financing round, led by Smith & Nephew. The round also saw participation from Kent County Council and existing backers.
The capital will be directed towards expanding the company's commercial operations in Germany, launching the new VivoSight OCT tissue-imaging system, and completing a multi-centre clinical biopsy avoidance study in the US. Further applications in wound care and dentistry will also be explored.
The medical device firm is currently in talks to close a second £1.5m tranche of the Series B round in the coming months, building on £9m previously raised from London Business Angels, Octopus Investments, and Catapult Ventures.
Use of funds
- 01Expand into international markets
- 02Continue product development
- 03Fund research and development
Investors
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About the company
Michelson Diagnostics
Michelson Diagnostics develops advanced optical coherence tomography tissue-imaging systems for medical applications.