NEW YORK – Canadian point-of-care imaging firm MolecuLight on Monday announced that it has secured a $27.5 million investment from asset management firm Hayfin Capital Management.
The investment will be used to accelerate MolecuLight's growth in the US, Canada, and Europe in hospital inpatient and outpatient clinics, independent wound care clinics, podiatrists' offices, mobile care facilities, skilled nursing facilities, and long-term care centers, MolecuLight said in a statement.
The company has developed fluorescence imaging devices to provide real-time visualization of harmful bacteria in wounds. Its MolecuLight I:X device allows clinicians to view and digitally record images of a wound, measure and digitally record the size of a wound, and view and record images of fluorescence emitted from a wound when exposed to an excitation light, according to the device's indications for use document. The device received de novo clearance from the US Food and Drug Administration in 2018.
"This investment will enable us to accelerate our goal of improving how wounds are treated worldwide," MolecuLight CEO Anil Amlani said in a statement. "We will further expand our footprint to reach more healthcare providers and patients while continuing to develop additional cutting-edge features including thermal imaging, 3D wound visualization, and other unique feature sets that will be announced over the next six months."
Tungsten Advisors acted as the sole placement agent for the offering.