Video retinal imaging company Epipole announced that it has secured £1.5 million ($1.9 million) in new funding to prepare for introduction into the United States ophthalmic imaging market.
Epipole’s patented technology enables clinicians to scan the retina using real-time video and then extract high quality images for further examination. Retinal cameras are typically large and costly desktop systems, but Epipole believes it can revolutionize the sector with its portable design and cost-effective pricing.
“We’ve worked with ophthalmologists to test and refine features and capabilities, and will use this funding to implement the key changes needed,” Dr. Craig Robertson, founder and CEO of Epipole, said in a company news release. “We will have a particular focus on the US primary care optometry and ophthalmology markets, and plan to have product available by early 2021.”
“I am pleased to welcome Ian Stevens as chairman,” Dr. Robertson said. “His broad commercial experience and specific expertise in retinal imaging will be valuable to us as we introduce our products to the eyecare market.”
Mr. Stevens is an experienced technology industry executive, holding CEO positions at Scottish businesses Touch Bionics, Mpathy Medical and BioFilm. Previously, he spent 9 years at leading retinal imaging company Optos, initially as CFO and then as General Manager of its North American business.
“There is a tremendous opportunity for handheld and truly portable fundus cameras that are easy to use and combine high quality imaging with attractive pricing,” Mr. Stevens said. “I am delighted to join the company and look forward to working with Craig and his team as we seek to transform ophthalmic imaging with our new technology.”
The financing was led by new investor Greenwood Way Capital with the Scottish Investment Bank, the investment arm of Scottish Enterprise, also participating.