Freedom Meditech, a San Diego, CA-based medical device company focused on the commercialization of novel ophthalmic technologies for the detection of diseases and management of patient health, closed a $7m Series B financing.
The round includes a syndicate of new investors as well as returning investors who participated the Series A round in 2009. In addition to the financing, Andy Sassine – a former portfolio manager for Fidelity Investments from 1999 to 2012 – has joined Freedom Meditech’s Board of Directors.
Founded in 2006 and led by Craig Misrach, CEO, Freedom Meditech has just launched the ClearPath DS-120 Lens Fluorescence Biomicroscope, a tool for the measurement of autofluorescence by scanning the crystalline lens of the eye with a blue light.
The company intends to use the funds to support the U.S. commercial launch of the ClearPath and further expand the intellectual property position of its I-SugarX diabetes glucose meter.
Freedom Meditech has secured over $10m to date.