Tuesday, June 3, 2008

VeraLight Adds $20M

Albuquerque, N.M-based VeraLight, which is developing medical devices for screening for diabetes, said this morning that it has raised $20M in a Series C funding round. According to Veralight, the round was led by Psilos Group and CMEA Ventures, and also included participation from vSpring Capital, EPIC Ventures, The Dow Chemical Company, and the Southern Ute Growth Fund. VeraLight said the funding will go to complete the firm's clinical trial and commercialize the firm's non-invasive diabetes screening system. The company claimed that it plans to submit a Premarket Approval application to the U.S. FDA. More information »