DURHAM, NC – Oncoscope Inc. has closed a Series A funding in an undisclosed amount, according to NCIDEA, which awarded the company a grant two years ago. IDEA Fund Partners led the funding with participation from Southeast Techinventures and angel investors.

Oncoscope, Inc develops proprietary optical imaging systems that aid the early detection of cancers in the esophagus, colon and other internal organs.

These systems are non-invasive and provide real time feedback to the physicians reducing the cost, time and uncertainty associated with existing random biopsy techniques.

The technology was developed at Duke University.

The funds will support the company’s development of its optical imaging systems.

Lister Delgado, partner at IDEA Fund Partners has joined the Oncoscope board.

“We have closely watched Oncoscope’s progress since their award of an NC IDEA grant two years ago” said Delgado.

He added “the company’s optical imaging technology for early detection of cancer has made great progess and we are pleased to support the Company as it completes its first commercial imaging system.”

There is a large potential market for the company’s imaging technology.

Eighty-five percent of all cancer originate in epithelial tissues where they are very hard to detect.

Billions are spent each year in attempts to detect cancer in these tissues. The random and haphazard nature of these detection methods results in most cancers being missed until they reach an advanced stages leading to low survival rates.

This is most apparent in esophageal cancer where the 5-year survival rate is only 16 pecent.

On the Web: www.oncoscope.com

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