Business Excellence Awards
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By Patrick Anderson
PBN Staff Writer
PROVIDENCE – Medical imaging innovator Lucidux LLC has landed a $250,000 investment from public venture capital firm Slater Technology Fund.
The 2011 Rhode Island Business Plan Competition Winner, Lucidux is developing three-dimensional surgical imaging equipment in collaboration with researchers from Brown University and Rhode Island Hospital, and corporate partner Photon-X Inc. of Huntsville, Ala.
The technology is designed to produces high-resolution images during arthroscopic and laparoscopic surgeries with sufficient detail and texture to allow doctors to differentiate diseased and healthy tissue.
In 2010, Lucidux received a $185,000 grant from the Rhode Island Science and Technology Council.
Lucidux was founded by CEO Jason Harry, who previously founded Afferent Corp., which also received an investment from Slater.
The $250,000 convertible debt investment is the second this month from Slater, which last week announced an investment of the same amount in VoltServer Inc.
“Lucidux is developing a breakthrough imaging technology for use in high-value medical applications,” Richard G. Horan, senior managing director of the Slater Technology Fund said in a statement.
“[Harry] 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,” added Horan. “We look forward to working with him and his colleagues as the technology advances into clinical practice.”