Modulated Imaging develops medical-photonics and informatics solutions powered by its Spatial Frequency Domain Imaging (SFDI) platform to assess tissue health. Its core product, the FDA-cleared Clarifi Imaging System, provides quantitative assessment of circulatory compromise to help identify patients at risk for diabetic foot ulcers and other vascular complications. The SFDI technology measures microvascular tissue oxygenation and hemoglobin concentration and distribution to detect compromised perfusion early. The company positions Clarifi to enable earlier clinical intervention with the potential to save limbs and lives and reduce treatment costs. Recent financing is being used to advance commercialization of Clarifi and broaden clinical adoption. Modulated Imaging develops light-based, non-invasive imaging systems (Ox-Imager CS) that provide both surface and subsurface views plus a digital color photograph to assess tissue health and identify lower-limb vascular issues. The company received FDA clearance earlier this year for the Ox-Imager CS. Proceeds from its recent financing will support key clinical studies — expanding trials beyond California and Arizona — and accelerate development of a miniaturized next-generation Ox-Imager device. Modulated Imaging closed a $2.86 million Series A and also received a $1.2 million Commercialization Readiness grant from NIAMS (NIH). This financing is the company's second round since July of last year. The company was founded in 2008 and is based in Irvine, Calif. Modulated Imaging is an Irvine, CA–based developer of imaging systems for scientific and medical applications. The company develops patented Spatial Frequency Domain Imaging (SFDI) tissue-imaging devices intended to help medical, research and aesthetics professionals prevent, diagnose and treat underlying skin conditions. Its first medical device, the Ox-Imager CS, is pending FDA clearance and is targeted to rapid, wide-area perfusion studies across applications from vascular labs to chronic wound management. Modulated Imaging also sells the Reflect RS scientific instrument. The company has been self-funded through sales of the Reflect RS and approximately $8M in research grants from the National Institutes of Health and the Department of Defense. It intends to use the newly raised funds to continue development of its medical technology.

Total raised

$12M

Funding rounds

4

Latest round

Series B

Latest activity

Jan 2019