Lumedica Vision Ranked Third Most Fundable Company in America

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DURHAM, NORTH CAROLINA – Lumedica Inc., a privately held company focused on improving access to eye care by creating low-cost, high performance, Optical Coherence Tomography (OCT) systems for research and clinical applications, was awarded Third Place in Pepperdine University’s Graziado Business School annual survey of the Most Fundable Companies. 

Over 3,500 early-stage companies were evaluated as part of the survey in 2019. Winning companies were chosen based on the viability of their business model, size of addressable market, management team expertise, board of advisors, and competitive advantage in their market.

During the final stages, high potential companies were invited for an interview with our selection team and the winners are announced. 

Lumedica Vision’s presentation focused on the viability of their patented, low-cost eye disease screening device which uses Optical Coherence Tomography, or OCT. OCT is currently the gold standard screening tool for retinal eye diseases, but remains out of reach for many health providers worldwide. Lumedica’s affordable, accurate eye-screening device will be affordable, easy-to-use and help prevent blindness in under-served populations worldwide.

“We’re so grateful for the recognition by the team at the Graziado Business School and find others getting as excited as we are about the trajectory of our company and technologies,” said Lumedica Vision founder, Dr. Adam Wax. “It’s also been very constructive to receive feedback from members of the entrepreneurial and investment experts.”

A complete list of winners was published in Entrepreneur Magazine’s December 2019 Issue.

About Lumedica

Lumedica is comprised of believers and builders of affordable healthcare technologies. With a proven track record in scientific innovation and product development, Lumedica creates affordable light-based scientific and medical instruments that deliver accurate diagnostic results.

Leveraging off-the-shelf and custom imaging components, Lumedica is able to make diagnostic devices cheaper, more durable, and easier to distribute. Our first initiative is building a novel, patented device to administer OCT (Optical Coherence Tomography) technology — the gold standard for retinal imaging — to detect chronic, asymptomatic eye diseases. The company was founded in 2014 based on research conducted at Duke University’s BIOS Laboratory. Other technologies and innovations are in the development pipeline.

For media inquiries, contact info@lumedicasystems.com

Lumedica Vision Awarded $250K in 2019 Luminate Accelerator Program

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ROCHESTER, NEW YORK — The Upstate New York economic development program, “Luminate,” which helps incubate and invest in optical technology startups, awarded Lumedica Vision third place in its 2019 competition, which includes a $250,000 funding offer. The ceremony marked the end of an intense six-month business development program in which the Luminate/NextCorp team provided hands-on guidance for ten competing startups. Of the four companies awarded funds, Lumedica Vision was the only company based outside of New York to win an award. The Luminate program delivered invaluable business guidance in a range of critical areas, including commercialization and manufacturing, pricing, distribution and valuable connections to the optical investment community.

 

“We’re so grateful,” said key participant and Lumedica Vision CEO Geoffrey Metcalf. “This has been an incredible journey. It’s been an honor to be among the ten companies enrolled in this program. We’ve all learned so much, not just from the Luminate mentors, but also from each other. It’s amazing to see how much we’ve all grown as a result of this process. We hope to continue to be a part of Rochester’s re-vitalized optical technology community.”

Said Founder and Chief Science Officer, Dr. Adam Wax, “We’re honored, excited and so grateful to have been invited to participate in this program. We learned a tremendous amount and this award helps us move closer to achieving our mission of detecting and preventing blindness around the world.”

For press inquiries, please contact info@lumedicasystems.com.

About Lumedica Vision

Lumedica Vision creates affordable light-based scientific medical instruments that deliver accurate diagnostic results.

Leveraging off-the-shelf and custom imaging components, Lumedica Vision is able to make diagnostic devices cheaper, more durable, and easier to distribute. Our first initiative is building a novel, patented device to administer OCT (Optical Coherence Tomography) technology — the gold standard for retinal imaging — to detect chronic, asymptomatic eye diseases. A division of Lumedica, the company was founded in 2014 based on research conducted at Duke University’s BIOS Laboratory. Other technologies and innovations are in the development pipeline.

For media inquiries, contact info@lumedicasystems.com