MolecuLight has secured a $7.5 million term loan from Oxford Finance, a specialty finance firm providing senior debt to life sciences and healthcare services companies.
The financing will further support MolecuLight’s commercial expansion for the growing global demand for its MolecuLight i:X device. The MolecuLight i:X is a safe, portable fluorescent imaging device that assists clinicians in visualizing clinically significant bacteria in chronic wounds in real time, digitally measuring the wounds and assisting in optimizing the treatment pathway at the point-of-care.
“Securing this funding bolsters MolecuLight’s financial position as it provides us the additional resources to build our global commercial organization to support the significant demand from wound care practitioners for our MolecuLight i:X device,” said Anil Amlani, MolecuLight’s CEO.
“Oxford provides financing for high growth, high potential medical device companies and we feel that MolecuLight is such an opportunity,” said Christopher A. Herr, Senior Managing Director at Oxford Finance. “The combination of their i:X device, its powerful value proposition against a significant clinical problem, and the experienced team at MolecuLight make this the ideal company for us to finance.”
MolecuLight is a privately owned Canadian medical imaging company that has developed and is commercializing its proprietary fluorescent imaging platform technology in multiple clinical and commercial markets.
