Slater Invests $250,000 in Surgical Visualization Technology Startup
Providence-based Lucidux Aims to Revolutionize Visual Information Provided to Surgeons
Providence, R.I., July 30, 2012 – The Slater Technology Fund today announced that it has committed $250,000 in funding to Lucidux, LLC, a developer of 3D imaging technology for use in minimally invasive surgery and related clinical applications. Lucidux, a winner in the 2011 R.I. Business Plan Competition, will use this new investment to advance the development and commercialization of its medical imaging solution.
Lucidux’s technology, which is being developed with corporate partner Photon-X, Inc. (Huntsville, AL), provides real-time, 3-dimensional imaging of internal organs and tissues during surgical procedures such as laparoscopy and arthroscopy. Using software-enhanced presentation of the surgical scene, surgeons will be better able to understand and interact with complex anatomical structures. Advanced shape and texture analysis of the high-resolution 3D data acquired by the technology will highlight areas of diseased tissue, enabling surgeons to remove them without damaging healthy neighboring tissue. This approach has the potential to significantly improve long-term outcomes for surgical patients.
Lucidux founder and CEO Jason D. Harry, Ph.D. is a successful Rhode Island-based entrepreneur who previously founded Afferent Corp., which focused on neurostimulation technologies for the treatment of chronic dysfunction as a result of stroke, aging, and diabetes. Harry also previously served as vice president of research engineering at NMT Medical, where he developed minimally invasive cardiovascular implants. At Lucidux, Harry is collaborating with researchers and clinicians from Brown University and Rhode Island Hospital to advance the company’s research and product development programs.
"Lucidux is developing a breakthrough imaging technology for use in high-value medical applications," said Richard G. Horan, senior managing director of the Slater Technology Fund. "Jason is successfully leveraging collaborations with the Rhode Island-based research community to win significant research support, including grant funding from the R.I. Science and Technology Advisory Council and National Institutes of Health. We look forward to working with him and his colleagues as the technology advances into clinical practice."
About Slater Technology Fund
The Slater Technology Fund is an independently chartered, non-profit corporation that operates in accord with best practices of venture capital investing, backing new ventures committed to basing and building businesses in Rhode Island. Leveraging state and federal funding, Slater focuses its resources on the support of entrepreneurs who have the vision, leadership and commitment to build substantial commercial enterprises. Slater typically invests at the inception stage in the development of a new venture, often based upon ideas and technologies originating in academic institutions and/or government research laboratories located within the region. In most cases, investments are premised upon the possibility of raising substantial follow-on financing, from venture capital investors or from strategic partners, with a view toward accelerating the generation of significant numbers of high-value, high-wage jobs over the intermediate to longer-term. For more information, visit www.slaterfund.com.
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