New Financing to Meet Significant Growth in Global Demand for MolecuLight’s i:X® and DX™ Point-of-Care Imaging Devices for the Wound Care Industry
Toronto, CANADA– (August 11, 2022) MolecuLight Inc., the leader in point-of-care fluorescence imaging for real-time detection of wounds containing elevated bacterial loads, announced that it has completed a financing with BDC Capital and iGan Ventures. The funds are to support MolecuLight’s continued global expansion to meet growing customer demand for its MolecuLight i:X® and DX™devices. Leonard Kofman and Jody Staggs, Managing Director of SWK Holdings will join MolecuLight’s Board of Directors as observers.
“With the continued growth in global demand for our i:X and DX platforms, we are happy to announce this financing from BDC Capital and iGan Ventures, who has been an early investor in MolecuLight,” says Anil Amlani, CEO of MolecuLight Inc. “The proceeds will support the continued growth of our commercial operations and infrastructure to meet market demand”.
“We have invested in MolecuLight since inception and are thrilled to see the company achieve global commercial success,” says Sam Ifergan, Founder and President of iGan Partners. “Their customers continue to generate a wealth of published data showing the improved outcomes and cost savings, which is supporting MolecuLight becoming the standard-of-care in wound care globally”.
“BDC is proud to participate in the financing of MolecuLight, an impressive Canadian company that is making a global impact in terms of improving healthcare outcomes,” says Leonard Kofman, Partner with BDC Capital’s Intellectual Property-Backed Financing practice. “MolecuLight solved an unmet clinical need – the need to detect bacterial burden in wounds, and has commercialized a suite of products that is positively impacting wound care globally. Demand for the technology is strong and growing and we believe the company is well positioned for continued growth and success”.
The MolecuLight devices are sold in North America through its direct sales and clinical applications team and internationally through MolecuLight’s 15 specialized distributors in 18 countries.