Freedom Meditech, Inc., a San Diego, California-based medical device company, raised $4.8 million in a Series C financing.
The company intends to use the funds to advance its R&D programs.
Led by newly named Mr. John Gerace as chief executive officer, Freedom Meditech focuses on the commercialization of novel non-invasive technologies for the detection of disease and management of patient health.
The company’s first product, the ClearPath DS-120®, a non-invasive tool for the measurement of autofluorescence in the eye that has been cleared by the FDA, and has obtained the CE mark and a Canadian Establishment license is available for sale worldwide.
The company’s second product currently in development is a non-invasive ophthalmic glucose monitor that measures glucose levels in the eye for people with diabetes, to replace the finger-prick technologies currently in the market.
Freedom also has supporting research and development activities throughout the state of Ohio.