WiSys partner NovaScan Inc. is raising $1 million to $2 million in funding as an extension of an LLC round to continue development of its technology platform for the detection of cancer. The Milwaukee-based company, formed in 2001 by a UW-Milwaukee professor, plans to raise the funds over the next several months.
"We have a device that detects cancer electrically," said William Gergory, NovaScan founder and chief scientific officer. "It's rapid, it's inexpensive, and it's very accurate."
NovaScan is testing their technology at Aurora facilities and at Columbia St. Mary's in Milwaukee, and is seeking a de novo classification from the U.S. Food and Drug Administration to move closer to commercialization of its product.
"We're using the funds to complete a product under design controls and commence a pivotal trial," said chief executive officer Craig Davis.
Davis has previously lauded the support provided by long-standing partner WiSys.
"This is a disruptive and potentially impactful technology platform that has taken years to gestate. WiSys has been invaluable here. I am quite confident that NovaScan would not be where it is today without their support," Davis said.
Read more about NovaScan's recent funding here.
Find out more about NovaScan's platform technology and partnership with WiSys here.