Accelerate Fund III invests in PulseMedica to expand treatment options for millions of people with eye disease
Edmonton, AB, November 23, 2023 – Accelerate Fund III today announced its investment in PulseMedica, an Edmonton medical device company developing a state-of-the-art 3D imaging and surgical system that allows for ultraprecise laser treatment of vitreoretinal eye disease affecting over 500 million people worldwide.
PulseMedica’s patented ophthalmic laser system has potential to diagnose and offer treatment for eye disease where there is currently limited to no treatment options such as vitreous floaters, diabetic retinopathy macular degeneration (AMD), branch retinal vein occlusion, and vitreomacular traction. Earlier this year, the company has completed its first clinical trial related to diabetic retinopathy to demonstrate the accuracy, safety and efficacy of its imaging and tracking platform.
“I completed my PhD at University of Alberta in electrical engineering looking at how femtosecond laser technology – a laser with very short laser pulses – could advance biomedical treatment,” explained Nir Katchinskiy, Co-Founder and CEO of PulseMedica. “There is a natural fit to using that ultraprecise technology on the eye as millions suffer from various vitreoretinal diseases that are difficult or impossible to treat with current methods. For vitreoretinal imaging and treatment however, we need to develop next-level accuracy.”
While completing the Creative Destructive Lab program in 2020, Nir discovered an ally to grow the business, Eric Martin, who became a Co-Founder and Chief Operating Officer of PulseMedica. Since then, the company has grown to more than 30 people including a diverse team of electronics, mechanical, optical, software and machine learning engineers who collaborate to design and build every component of PulseMedica’s complex system in-house, undertaking very rapid research and development.
“Technology exists to perform laser surgery on the back of the eye and the surface, but not yet in the middle of the eye,” said Arden Tse, Investment Manager, Accelerate Fund II & III. “PulseMedica brings together spatial mapping and precise retinal surgery that’s possible as an in-office day treatment, which opens multiple application opportunities. Frankly, many members of our team are likely to benefit from advances in eye disease treatment, so as well as standing out in the market, this investment spoke to us personally.”
PulseMedica will be using the recent investments from Accelerate Fund, other private capital and grant sources to continue advancing its imaging, diagnostic and treatment platform. The company is looking to complete further vitreoretinal pre-clinical safety and efficacy studies of its laser technology in Q4 2023 and in early 2024.
PulseMedica is Laser Focused on improving the quality of life for millions of people suffering from vitreoretinal disease by building revolutionary technology. Based in Edmonton, Alberta, PulseMedica is developing a medical device to treat vitreoretinal diseases that affect over 500 million people worldwide. Our device consists of a state-of-the-art 3D imaging and surgical platform that allows for comprehensive patient treatment including machine learning based disease detection, surgical planning, surgical treatment, and post-surgery evaluation.
About Accelerate Fund III
Accelerate Fund III is an early-stage angel co-investment fund in Alberta. We co-invest alongside angel investors in financing rounds and will typically invest up to $500,000 on the same terms and conditions as private investors. We work with formal angel groups, super-angels, family funds, and individual angel investors. Accelerate Fund III invests in private, early-stage Alberta companies in knowledge-based industries including: information and communications technology, energy technology, as well as life sciences, including agriculture and biotech. Accelerate Fund III is managed by Yaletown Partners with the support of The A100. Alberta Enterprise Corporation is Accelerate Fund III’s lead limited partner with support from other investors, including Opportunity Calgary Investment Fund.
Accelerate Fund III
Claudia @ materialinsight.com