LEADOPTIK Raises $5 Million in Series Seed Funding to Advance Early Lung Cancer Detection with Cutting-Edge Imaging Technology

MetaVC

Source: LEADOPTIK

May 22, 2023

SAN JOSE, Calif., May 22, 2023 /PRNewswire/ -- LEADOPTIK Inc., a Silicon Valley-based medical imaging company today announced that it has raised $5 million in an oversubscribed series seed funding, led by MetaVC Partners with participation from SOSV, Sony Innovation Fund, TSVC, ENEA, Arash Ferdowsi (co-founder of Dropbox), Ray Muzyka (co-founder of BioWare), and others. This injection of capital will allow LEADOPTIK to move to the next stage of product development -including FDA approval - on the path to commercialization.

LEADOPTIK is developing a miniaturized imaging system ushering in a new level of real-time imaging deep inside human lungs and enabling early diagnoses of cancer. Combining novel nanofabrication and innovative optical metamaterials technology, the company's product will allow surgeons to view objects that are fifty times smaller than what is possible with current imaging systems.

"As a technical CEO, I feel incredibly fortunate to witness how my work on metasurface technology has the potential to enhance people's health," said Reza Khorasaninejad, co-founder and CEO of LEADOPTIK. "This funding is a very encouraging step to get us closer to that goal," he added. "I am thrilled to be part of this exciting journey and grateful for the support of visionary investors who are helping us bring the true benefits of this cutting-edge technology to patients," said Jiang You, co-founder of LEADOPTIK.

By using proprietary optics made from dielectric metasurfaces, LEADOPTIK has shrunk the optical elements to a size comparable with that of human hair. Due to its unprecedented small size, driven by advanced imaging software, the probe can travel through even the narrowest airways, allowing for real-time imaging and detection of tiny tumors. In addition, the small form factor of LEADOPTIK's probe allows its integration with biopsy needles, providing real-time guidance during biopsy procedures. This integration is critical for increasing the accuracy of biopsies, which are often performed blindly.

"We look for exciting investment opportunities like LEADOPTIK, where breakthroughs are being made with novel solutions like optical metamaterials," said Conrad Burke, managing partner at MetaVC Partners.

According to the World Health Organization, lung cancer is responsible for the highest number of cancer-related deaths worldwide. Early detection and diagnosis are vital to a patient's survival; however, there are currently no effective approaches for diagnosing cancer at its earliest stages.

"We believe that such technology innovation has the potential to transform healthcare, particularly in areas such as cancer diagnostics, where there is a large unmet need for more accurate and timely screening and diagnosis," said Austin Noronha, Managing Director-US, Sony Ventures. "The work that LEADOPTIK is doing in developing novel imaging technologies to address lung cancer detection is a perfect example of that."

About LEADOPTIK
LEADOPTIK Inc. is a deep-tech startup based in San Jose, California. This company is building a miniature imaging platform that will deliver an Image-Guided Biopsy for Early Lung Cancer Diagnosis. For more information about LEADOPTIK and its technology, please visit www.leadoptik.com.

About MetaVC Partners
MetaVC Partners is an early-stage venture fund investing in new startup companies using metamaterials for applications in renewable energy, high-performance computing, imaging, and next-generation wireless communications and sensors. More information can be found on MetaVC Partners' website.

About SOSV
SOSV is a global, multi-stage venture capital firm with $1.5 billion in assets under management. Headquartered in Princeton, NJ, SOSV operates early-stage startup development programs including HAX (hard tech) and IndieBio (human and planetary health), and Orbit Startups (emerging markets) programs. More information can be found at www.SOSV.com

About Sony Ventures Corporation
Sony Ventures Corporation manages Sony Innovation Fund (SIF), which invests in all stages of emerging technology companies as well as in startups solving global environmental challenges. SIF engages with pioneering startups to help fuel the development of disruptive technologies, launch new businesses, and contribute to the environment while seeking return on investment. Sony Ventures Corporation, a wholly owned subsidiary of Sony Group Corporation, is headquartered in Japan.

About TSVC
Founded in 2010, TSVC (formerly TEEC Angel Fund) is proud to be the first early-stage deep tech-focused venture capital firm founded by Tsinghua alumni in Silicon Valley. Over 13 years of operation, TSVC has invested in over 200 startups and has been ranked in the top decile of early-stage funds in the US. With top domain expertise and extensive startup experiences, our partners are bringing distinctive value-add to our entrepreneurs along with capital investment.

About ENEA
ENEA Capital is an "operator-driven" venture capital firm focused on early-stage technology companies. Website.

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SOURCE LEADOPTIK