Diagnostic Photonics, a Serra Capital I & II company, was named the winner of the 2015 PROPEL business plan competition on October 29. Diagnostic Photonics, based on technology from the University of Illinois Urbana Champaign, is a medtech company developing a handheld, high-resolution imaging system for cancer surgery. The Foresee™ (4C) Imaging System will provide new, crucial information and insight on the extent of disease at the microscopic level.
Tim Hoerr, CEO of Serra Ventures, was quoted in the article, “In the last few years, the Diagnostic Photonics team has made tremendous progress in bringing a powerful cancer imaging technology to market. I’m pleased to see the recognition of this progress with the company’s first place win in the 2015 PROPEL Business Plan Competition. Serra Ventures is proud of its investment in and affiliation with this promising company.”
PROPEL is dedicated to increasing the number and success rate of early-stage life sciences companies in Illinois. The competition consisted of 20 companies from the Chicagoland area, and Diagnostic Photonics walked away with the $15,000 cash prize.