Vasoptic Medical, Inc., a Maryland-based medical device company, has announced that they have received investment from The Abell Foundation to support the development of Vasoptic’s vascular imaging technology. In conjunction with the investment, the company has moved its headquarters to the McHenry Row area of Locust Point in Baltimore.
“We are honored and proud to be among a growing number of medical technology companies in the Abell Foundation investment portfolio,” said M. Jason Brooke, CEO of Vasoptic Medical. “Baltimore is rapidly becoming an innovation hub for the medical device industry. We are excited to locate and grow our company in such a rich, entrepreneurial ecosystem. Abell’s investment will enable us to bring important eye care to the people of Baltimore and beyond.”
“As a highly innovative company focused on improving the quality of accessible healthcare, Vasoptic is a great example of the type of company we want to see locate in Baltimore,” said Robert C. Embry, Jr., president, The Abell Foundation. “The company is poised to significantly increase access to affordable, quality eye care and will contribute to the growth of Baltimore’s thriving tech industry.”
The company’s technology will be used for the rapid and inexpensive assessment of the functional state of the retina, which can lead to timely detection of information pertaining to health and disease conditions. Vasoptic’s initial focus is on enabling primary care providers and healthcare retailers to perform routine eye exams in their diabetic patient population for early detection of diabetic retinopathy. Diabetic retinopathy is a condition that affects nearly 1 in 3 diabetic patients and, if unmanaged, leads to severe vision impairment and blindness. According to the Centers for Disease Control and Prevention, there are more than 29 million individuals in the United States with diabetes.
The Abell Foundation’s investment will support Vasoptic in advancing development and commercialization of its core technology to a clinic-ready device that can be used in telehealth settings and enable longitudinal clinical trials.
“In addition to supporting our technology development, this investment will help strengthen our collaborations with The Johns Hopkins University and the University of Maryland Medical Center,” said Dr. Abhishek Rege, CTO of Vasoptic Medical. “These relationships have been critical to our success to date and our presence in Baltimore will, no doubt, facilitate greater innovative collaboration.”
About Vasoptic Medical, Inc.
Vasoptic Medical, Inc. is an early-stage, medical device company with a mission to advance healthcare through innovation in medical diagnostics. Headquartered in Baltimore, Vasoptic Medical is committed to creating and delivering value to the patient and the healthcare system.
The Abell Foundation
The Abell Foundation is dedicated to the enhancement of the quality of life in Maryland, with a focus on Baltimore. The Foundation seeks to address the complex challenges caused by cycles of urban poverty by supporting efforts to identify solutions that are both innovative and results-oriented.