Visunex Medical Systems said last week that it raised a $20 million Series B round for its PanoCam line of neonatal eye imaging systems.
Fremont, Calif.-based Visunex said the PanoCam line includes the LT and Pro wireless systems and a 3rd system set to debut in June.
“The interest in the medical investment community to be part of this funding round turned out to be much more than we had anticipated,” founder & CEO Wei Su said in prepared remarks. “This new round of funding brings the total investment into Visunex Medical to $32 million, and will allow the company to expand manufacturing operations to meet the market demand. We will also increase our investment in R&D, including resources, to bring additional products and clinical options through the development pipeline and into the market. The Series B funding allows Visunex to stay on course with our long-term strategy.”
“In the past, the market for newborn and pediatric imaging has been primarily centered on the clinical needs of premature infants, retinoblastoma and abusive head trauma. The need for telemedicine solutions and additional qualified and willing clinical readers to enable wide area network screening, have been apparent for some time, and recognized by the medical societies in these segments. The PanoCam family of systems are the first to be designed specifically for these types of scenarios, offering an option for clinicians from the private office to the operating room,” added SVP Paul Kealey. “The forward-looking product and market strategy encompasses a product portfolio beyond the documentation needs of these segments.”
The PanoCam Pro device won 510(k) clearance from the FDA in March 2016.