Press Release: MolecuLight Receives $990,000 from FedDev Ontario to Complete Commercialization of a New Clinical Wound Imaging Technology

This important financial support will allow MolecuLight to accelerate commercialization of its unique patented handheld fluorescence-imaging platform, which will enable clinicians to detect bacteria in chronic wounds, in real-time and at the point-of-care. MolecuLight’s technology addresses an important problem in the clinical assessment and management of wounds and has the potential to change clinical practice in the field of wound care in Ontario, Canada and beyond.

Posted on November 28, 2014

“Our Government is proud to support Moleculight in bringing a medical device to market that has the potential to improve patient treatment and care. FedDev Ontario’s programming is helping to position our businesses to explore new opportunities, which creates jobs and economic growth,” said the Honourable Gary Goodyear, Minister of State for the Federal Economic Development Agency for Southern Ontario (FedDev Ontario).

Craig Kennedy, MolecuLight’s CEO, comments: “We are very excited that FedDev Ontario has selected MolecuLight for an investment. These funds will help support the development of a truly innovative photonics-based imaging technology that will have a dramatic impact in the medical field. As an early-stage company, this funding will allow us to remain ‘laser focused’ on critical product development activities.”

The Federal Economic Development Agency for Southern Ontario’s (FedDev Ontario) contribution is through the Investing in Business Innovation initiative, aimed at strengthening the innovation ecosystem in southern Ontario by supporting new entrepreneurs, early-stage businesses and angel investors.

For further information please contact:

Catherine Theodoropoulos, PhD
VP Marketing & Product Strategy
email: catherinet@moleculight.com

About MolecuLight:

MolecuLight is an early-stage medical imaging company that focuses on the development and commercialization of optical imaging-based solutions providing relevant, actionable information rapidly at the point-of-care. The company’s handheld fluorescence imaging technology platform is intended to provide information about wound and skin morphology and reveal previously unseen bacteriological information in real-time. The first commercial device is anticipated to aid and simplify the clinical assessment, microbial sampling and treatment of wounds. MolecuLight is based in Toronto, ON, Canada. For more information, please visit: www.moleculight.com

About FedDev Ontario:

The Government of Canada’s Federal Economic Development Agency for Southern Ontario (FedDev Ontario) delivers programs and services to help create, retain and grow businesses, cultivate partnerships and build strong communities. FedDev Ontario’s programming is designed to support a strong southern Ontario economy and position the region to compete globally. For more information, visit www.FedDevOntario.gc.ca.