Deal of the week: Apeliotus raises $500k in seed round · November 2008
Deal summary reprinted from Strategic Transactions - November 2008
Find out how Start-up diagnostic company Apeliotus Vision Science has received $500k from Life Sciences Greenhouse of Central Pennsylvania in the first tranche of its planned $2mm seed financing.
AVS--a 2008 spin-off of Apeliotus Technologies, which in-licenses device and diagnostic IP from southeastern US universities--hopes to commercialize a noninvasive test that will diagnose AMD earlier than any other clinical test on the market. The company's product AdaptDx, which was developed by Penn State College of Medicine's Greg Jackson, PhD, and University of Alabama's Cynthia Owsley, PhD, is a computer-automated machine that measures the speed with which a patient adjusts to darkness over a 15-minute period. It flashes a dim light below a red fixation point to determine the least amount of light the person can see. Night vision impairment may be a quantifiable biomarker of AMD before the disorder has progressed. AVS believes AdaptDx could bring in $300-400mm in yearly sales.
Other deals this reported this week:
Acquisition
Sorin buys Datascope's endoscopic vessel harvesting business · November 2008
Alliance
No deals this week.
Financing
Apeliotus raises $500k in seed round · November 2008
Urodynamix Technologies to sell up to 35mm shares · November 2008
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