Freedom Meditech Raises $7 Million to Sell a New Diabetes Screening Device, According to Xconomy

 

Freedom Meditech, which is based in San Diego, says it has raised $7 million in a Series B financing round to roll out a new scientific understanding that will allow optometrists and ophthalmologists to check for diabetes in their patients during regular eye exams. "This is a first-of-its-kind product," Freedom Meditech CEO Craig Misrach told me a few weeks ago at the 2013 American Optometric Association convention in San Diego, where the company's ClearPath DS-120 Lens Fluorescence Biomicroscope made its first appearance. Misrach said that the biomicroscope from Freedom Meditech is a portable eye exam device that costs about $35,000 each and gives eye care professionals a new way to make money. The technology scans the eye with a blue light, which makes the lens of the eye give off light clearly, or "autofluoresce." A sensor measures how bright the autofluorescence is, which is related to how many sugar molecules are in the attention lens. The group says that higher autofluorescence measurements were linked to higher levels of sugared proteins that come with age and the presence of a systemic disease.

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The FDA said earlier this year that Freedom Meditech's system could be used in the United States. Misrach said that the experiment, which can be done as part of a full eye exam or on its own for an estimated cost of $35 per exam, is similar to a screening test that measures a person's likelihood of getting diabetes. Patients with a high autofluorescence score may be told to see a diabetes specialist for a final diagnosis. Misrach, however, pointed out that only about 40 million Americans get their blood drawn and are automatically checked for diabetes every year, while close to 100 million people get an eye exam every year. He says that Freedom Meditech's biomicroscope could make testing for diabetes easier and more accessible. This could lead to earlier diagnoses of diabetes. In 2008, JumpStart, a nonprofit project growth group based in Cleveland, OH, put $380,000 into Freedom Meditech as part of a Series A round that was not made public. Since the company started out in 2006, it has raised more than $10 million from private investors, most of whom are wealthy people, according to Misrach. Freedom Meditech says that the money from the round will be used to help the clinical development of the I-SugarX, a non-invasive glucose meter for diabetics. The company will also use the money to improve its sales and marketing skills.

 

Diabetes is a long-lasting infection, and the number of people who have it is going up. This means that more and more people are likely to die from this very serious illness than ever before. Diabetes is a disease that has been linked to a number of different causes of death and dying too soon because of the complications that come with it. From 1980 to 2014, the number of young adults with this condition has nearly doubled. In 1980, 4.7% of young adults had diabetes, but by 2014, this number had risen to as high as 8.5%. Diabetes is already a problem for more than 422 million people around the world. Diabetes sufferers can get pills that help them control insulin and lower their blood sugar levels, but these medicines have bad side effects. Also, these kinds of medicines often completely cover up the signs of the illness but don't do anything to treat it.

 

Changes to a person's way of life and herbal treatments have been shown to have powerful effects, and in some cases, they don't just help the situation, but actually turn it around.

 

WHAT IS DIABETES FREEDOM?

 

Diabetes is a tool that is meant for anyone who wants to improve their health, not just people with type 2 diabetes. The device makes sure that healthy rules are followed, which could make it less likely that someone will get diabetes. This is great news, as there are currently 80.5 million pre-diabetic adults in the US, many of whom don't have any symptoms and don't know they are pre-diabetic. Diabetes is a two-month diet plan with lists of good and bad foods, seven rules for living a healthy life, exercise videos, and meal instruction courses. You should know that the plan isn't always a way to lose weight, which is good news for everyone. Diabetes freedom isn't about going to the gym for hours and hours and sweating, and it's also not about sticking to a strict diet that's low on flavor and the right foods.

 

Click to order Diabetes Freedom now from the official website at the lowest price.