Just like last summer, the nonprofit invested $250,000 in the medical device startup.
“Expanding our investment in Vasoptic Medical Inc. is a win-win for Baltimore,” said a joint statement released by the Abell Foundation board. “Vasoptic is growing Baltimore’s innovative tech industry and is poised to improve access to affordable healthcare for low-income populations.”
Vasoptic Medical, which moved from Columbia into an office in Mindgrub’s space near McHenry Row in Locust Point last year, is developing a device that allows primary-care doctors to give eye exams to diabetes patients. Since all diabetes patients are at risk for a condition that could cause blindness called diabetic retinopathy, eye exams have become a part of medical care. Vasoptic’s device would eliminate the need for an eye doctor to be present during those exams.
Vasoptic CEO M. Jason Brooke said the investment dollars will fund clinical studies and R&D activities. The company is currently conducting an early feasibility study at University of Maryland Baltimore in conjunction with the Department of Ophthalmology and Visual Sciences. Since making the move to Baltimore, the company also added a scientist and engineer to the team.-30-