VeraLight

About VeraLight

VeraLight, Inc. was a privately held medical device company established in 2004 as a spinout from Inlight Solutions. The company was led by CEO David Van Avermaete, a former Johnson & Johnson executive. VeraLight focused on developing and commercializing the SCOUT DS, a noninvasive screening device for prediabetes and type 2 diabetes, addressing a significant need for early and accessible detection.

The core of VeraLight's business was its proprietary SCOUT DS technology. This table-top device performed an optical skin test by measuring Advanced Glycation End-products (AGEs) in the skin. AGEs are biomarkers that accumulate as a result of long-term glycemic exposure and their levels are typically higher in individuals with diabetes. The technology utilized quantitative fluorescence spectroscopy, shining light of various wavelengths onto a patient's forearm. The reflected light was then analyzed to measure the AGEs, overcoming previous challenges of normalizing the optical signature for variations in skin color and blood content. This process provided a quantitative risk score in as little as 80 seconds, without requiring a blood sample or fasting.

The business model centered on the sale of the SCOUT DS device to healthcare providers, such as clinics and pharmacies, enabling mass screening for at-risk populations. The device received regulatory approvals, including a Health Canada Licence in April 2011, a CE Mark for the European Union in July 2011, and clearance for sale in Mexico in May 2012. The company secured distribution partners, such as Pear Healthcare Solutions in Canada, to bring the technology to pharmacies. Throughout its operation, VeraLight raised capital to fund product development and commercialization, including a $5 million Series A in 2005 and a $17.5 million Series B round in 2006.

In July 2013, the SCOUT DS technology and related assets were acquired by Miraculins Inc. (later known as Luminor Medical Technologies), a Canadian biotechnology company focused on diagnostic tests. The acquisition was intended to leverage Miraculins' distribution network and expand the market reach of the non-invasive screening platform.