Latest News Tesseract Health Closes Oversubscribed $80 Million Series B Financing By Staff Thursday, April 22, 2021 12:18 AM GUILFORD, Conn.—Tesseract Health has raised $80 million in an oversubscribed Series B financing round. The funds will be used to advance the development of the company’s Tesseract iC eye-imaging diagnostic technology platform, accelerate its push to obtain U.S. and international regulatory clearances, and ramp up manufacturing, the company said in a statement. The funds will also be used to further enhance Tesseract’s unique AI capabilities and prepare the company for commercial launch. The funding round was supported by investors including Foresite Capital, Glenview Capital, and Opaleye.The Tesseract iC platform, which has not yet cleared by the FDA, is intended to diagnose a wide range of diseases without drawing blood. The platform includes a novel chemical sensor and combined, multiple dimensions of imaging technology and AI to image the retina, which is the only part of the human body where it is possible to directly see arteries, veins, capillaries, and nerves.Tesseract describes its Tesseract iC platform as “a binocular eye imaging device that is portable, affordable, and operable by anyone, supporting a post-COVID world focused on cloud-connected telemedicine.” Tesseract said it plans to usher in a new branch of diagnostics fusing the best of imaging and laboratory medicine, a truly world’s first to support screening, diagnosis, monitoring and treatment in a number of clinical domains to go well beyond ophthalmology to primary care, cardiology, neurology and more.“Our mission is to democratize health care on a global scale,” commented company founder, Dr. Jonathan Rothberg. “Tesseract aims to disrupt health care by leveraging the wealth of information that exists in the human eye to promote health equity. Everyone, anywhere, must have access to lifesaving diagnostic information. With Tesseract’s device, we believe they will.”Jim Tananbaum, CEO and managing director of Foresite Capital, remarked, "We are excited about the potential of the Tesseract iC to combine a portable, non-invasive view of the eye with advances in AI. "We believe this combination will unlock the potential of the human eye to transform diagnostics."Vik Bajaj, managing director at Foresite Capital, will be joining the Tesseract board of directors.