DermaSensor has raised $5.8 million from 23 investors in an offering that began in November, according to a report filed with the SEC this month.
The Florida-based company’s handheld device uses a light-emitting tip to evaluate potentially cancerous lesions on the surface of a patient’s skin. Using precision optics, the device can detect cellular pathological irregularities as small as 2mm, according to DermaSensor.
The device also connects wirelessly to its companion software and other applications, the company said.
DermaSensor’s machine-learning algorithm provides doctors with an “high risk” or “low risk” result after the device has scanned a lesion. The company touted that it takes roughly 20 seconds per skin lesion to produce a result.
The device makes use of an imaging process called elastic scattering spectroscopy, according to DermaSensor, which measures how photons scatter off of various cellular structures. Cancerous lesions scatter light differently than benign lesions, since they have distinct cellular and sub-cellular structures, the company said.
DermaSensor’s product is an investigational device that has not been approved by the FDA.