MAR 15, 2013
MacuLogix says it has raised $3.6 million in Series A funding to accelerate development of AdaptDx, a new diagnostic tool for early detection and tracking of AMD.
Similar to routine perimetry testing for glaucoma, this tool measures dark adaptation function. While AdaptDx has received FDA 510(k) clearance for measurement of dark adaptation function, it is not currently cleared for sale as a diagnostic. However, the company says numerous clinical studies support its validation as a diagnostic for AMD.
"Closing our Series A round is a very significant achievement for the company," said John G. Edwards, CEO of MacuLogix. "We have completed numerous clinical studies involving more than 1,000 patients with additional studies ongoing, all at major research centers such as Harvard University, the National Eye Institute and University of Alabama at Birmingham. This financing allows us to take the next step."
A number of pharmaceutical companies are currently using the device in the development of drugs for early AMD.