Excerpt of story provided by Crain's Cleveland Business
Venture development organization JumpStart Inc. has made an equity investment commitment of $380,000 in Freedom Meditech Inc., a company in San Diego that is developing a non-invasive ocular glucose measurement device for people with diabetes.
JumpStart said the device is based, in part, on patented technology developed at the University of Toledo.
JumpStart said its investment is part of an undisclosed amount of financing that is anticipated to allow Freedom Meditech to complete current pre-clinical studies and create a second-generation prototype for use in a pilot human clinical study. The company previously secured nearly $1 million in angel and bridge financing for initial proof of human concept studies and other operating expenditures...
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