October 02, 2014 3:24 AM ET

Healthcare Equipment and Supplies

Company Overview of Freedom Meditech, Inc.

Company Overview

Freedom Meditech, Inc., a medical device company, focuses on the development and commercialization of ophthalmic medical devices for the detection, monitoring, and management of chronic diseases, such as diabetes. The company offers ClearPath DS-120, an ophthalmic measurement tool that detects auto fluorescence of the crystalline lens of the eye and measuring the intensity of auto fluorescence and scattering of light in the lens during a scan of the patient's eye at the point of care. It also provides I-SugarX, a point of care personal glucose meter that measures glucose levels in the eye for people with diabetes. The company serves eye care professionals and physicians in the United States ...

5090 Shoreham Place

Suite 109

San Diego, CA 92122

United States

Founded in 2006

Phone:

858-638-1433

Fax:

619-567-7165

Key Executives for Freedom Meditech, Inc.

Chief Executive Officer
Age: 67
Director of Corporate Development
Vice President of Research and Development
Chief Science Officer
Age: 66
Senior Vice President of Sales and Distribution
Compensation as of Fiscal Year 2014.

Freedom Meditech, Inc. Key Developments

Freedom Meditech, Inc. Appoints Daniel M. Bradbury as Chairman of the Board of Directors

Freedom Meditech, Inc. announced the appointment of Daniel M. Bradbury as chairman of the board of directors. Mr. Bradbury is the managing member of BioBrit, LLC, and former CEO of Amylin Pharmaceuticals, Inc. He is currently managing member of BioBrit, LLC.

Freedom Meditech Announces Lens Autofluorescence Clinical Study

Freedom Meditech announced the publication of a study comparing measurement of lens autofluorescence to current hemoglobin A1c and fasting plasma glucose tests. Using a non-invasive six-second eye scan, researchers found a statistically significant difference in autofluorescence levels between normal glucose levels and glucose levels indicative of type 2 diabetes. The study observed 180 subjects self-reported as normal and 53 subjects diagnosed with diabetes or prediabetes. Measurements of autofluorescence, collected using a Lens Fluorescence Biomicroscope calibrated with standards traceable to National Institute of Standards and Technology, detected type 2 diabetes with a sensitivity of 67% and a specificity of 94%. By comparison, the hemoglobin A1C test demonstrated detection with a sensitivity of 44% and a specificity of 79%, and a fasting plasma glucose test demonstrated a sensitivity of 50% and a specificity of 95%. Autofluorescence detects the presence of advanced glycation products, or AGEs, in the lens of the eye. AGEs are yellow-brown and fluorescent proteins that are modified when sugars are metabolized. In the crystalline lens of the eye, AGEs are long-lived and accumulate over time. Studies have shown that AGEs are correlated with uncontrolled glucose. The data showed a high degree of predictability for diabetes diagnoses from lens autofluorescence measures and progressively higher fluorescence deviations for the diagnoses of prediabetes or diabetes. The progression was consistent with certain physiological mechanisms associated with the aging process and systemic disease, including progression of advanced glycation end products (AGEs), in subjects with prediabetes or diabetes than those without diabetes or prediabetes. The authors used a receiver operating characteristics curve (ROC) analysis to determine sensitivity and specificity for prediction of type 2 diabetes.

Freedom Meditech, Inc. Receives Canadian License for the ClearPath DS-120 Lens Biomicroscope

Freedom Meditech, Inc. received a Canadian Device Establishment License in Canada for the ClearPath DS-120. The ClearPath DS-120 is a non-invasive tool designed to quickly and accurately measure autofluorescence through a six second scan of the crystalline lens of the eye. Commercialization of the ClearPath DS-120 in both Europe and Canada will begin in the first half of 2014.

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Recent Private Companies Transactions

Type
Date
Target
Private Placement
June 27, 2014
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