A company that has developed a technology that uses artificial intelligence to help make faster decisions in wound care is planning to float on AIM to raise funds to undertake more clinical trials and open a UK base.
Spectral MD Holdings Ltd's DeepView wound imaging solution is an internally developed AI and multispectral imaging technology that enables the user to distinguish between damaged and healthy human tissue, invisible to the naked eye, providing 'Day One' healing assessments for burn wounds and diabetic foot ulcers (DFU).
It already has 'breakthrough device' designation status from the US Food & Drug Administration (FDA), for the burn indication.
But Texas-headquartered Spectral MD is targeting the larger commercial market of the DFU application and that is why it is seeking a placing of shares with UK investors for funds to undertake additional clinical trials for the DFU in the US, UK and EU.
The company said is also looking to develop a UK-based EMEA headquarters to support CE-Mark approval and commercial expansion.