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| ClearPath DS-120--Courtesy of Freedom Meditech |
Freedom Meditech, a San Diego-based medical technology company focused on diabetes, said it raised $4.8 million in a round of Series C financing.
Freedom makes the ClearPath DS-120, a device that scans the crystalline lens of the eye for signs of autofluorescence, and early indicator of diabetes. The company won FDA clearance for the scanner in January of 2013 and launched the product that June.
The company, which didn't disclose investors in the latest round, said in a press release it has raised a total of $14 million since being founded and is looking to "raise additional capital."
In addition to announcing the fund raising, Freedom said it appointed John Gerace as its chief executive officer and a member of the board of directors.
"John brings a wealth of experience in ophthalmology, diabetes and corporate business development that will be of tremendous importance in reaching customers in the eye care market, and later on in the primary care and health and wellness markets," Daniel Bradbury, chairman of the company, said in a statement.
The ClearPath device works by churning out a quantifiable result after each scan, helping physicians tailor treatment to a patient's individual autofluorescence level. About 80 million Americans have prediabetic conditions, according to the Centers for Disease Control and Prevention.
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