PhotoniCare has signed a manufacturing partnership with Zeeland-based Gentex Corporation to produce the OtoSight Middle Ear Scope. It’s a new generation of otoscope to better diagnose, treat, and monitor middle-ear infections.
Through a partnership with Gentex and Grand Rapids-based Michigan Capital Network, PhotoniCare, Incorporated secured $4.6 million in Series B financing, which helps startups expand their market presence, increase staff, and grow their business. The funding will allow PhotoniCare to move from Champaigne, Illinois, to Grand Rapids.
A November 27th filing with the U.S. Securities and Exchange Commission shows that the $4.6 million raised so far involved four equity investors. PhotoniCare President and CEO Cary Vance says the company is in the process of securing additional investments and expects to close out on a full $9 million round in the next few months.
The OtoSight scope is the first FDA-cleared device for middle-ear visualization and according to data published in January 2020, has been shown to be over 90% accurate in the detection of middle-ear infections. Those infections are the leading cause of hearing loss, surgery and antibiotic use, especially in children.
