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Bioptigen
Research Triangle Park, NC
In part due to support from the SBTDC, Bioptigen has won a number of SBIR grants and completed equity financing through the southeast angel community.
Research Triangle Park is home to Bioptigen, a leading developer
of ophthalmic imaging devices for research and clinical use.
Bioptigen’s technology is based on the science of Optical Coherence Tomography (OCT), an imaging system similar in
function to ultrasound, but using low-power light rather than
sound waves. OCT offers resolution 100-times finer than
standard ultrasound, suitable for analyzing tissue microstructure
with features smaller than 10 micrometer. Bioptigen offers a
uniquely versatile ophthalmic imaging system for visualizing the
effects of conditions such as macular degeneration, glaucoma,
and trauma, including trauma induced from shaken baby
syndrome. The Bioptigen system is finding adoption among
leaders in eye disease research and pediatric ophthalmology.
Dr. Eric Buckland, Co-Founder, President and Chief Executive Officer, is an expert in this area of research and development. Eric first learned about the SBTDC when preparing for the 2005 Five Ventures Business Plan Competition while seeking assistance with their pitch as well as marketing/sales.
In 2009, Eric began working with the SBTDC’s Technology & Commercialization Director Paul Ulanch on expanding Bioptigen’s market and quantifying their value proposition in the research market. Since they were transitioning from an R&D SBIR-funded company to a sales-driven investor-backed company, Paul engaged a team of skilled professionals to help the transition run smoothly. To help bridge the talents of SBTDC and local University faculty and students, Paul matched Bharath Raju, a Wake Forest University MBA student intern, with Bioptigen for several months. With SBTDC guidance, Bharath helped quantify value propositions, assisted with the definition and a bottom-up view of the market, and developed a cost-of-sales model stressing the importance of live demos.
In part due to support from the SBTDC, Bioptigen has won a
number of SBIR grants and completed equity financing through
the southeast angel community. When Bioptigen submitted a
recent Phase II SBIR grant proposal, they received a perfect
score. With business doubling in 2009, they are in a strong
position to accelerate sales and attract partners and capital.
Eric and Bioptigen plan to continue working with the SBTDC in the future. They have already planned for strategic planning assistance (Technology Roadmapping) from the SBTDC in 2010.
“The engagement with the SBTDC and Bharath Raju had a positive impact on Bioptigen along many dimensions. With their independent review of our market, we have gained additional confidence that we are serving a market that wants the unique features that Bioptigen has to offer.”
Story originally featured in the SBTDC's 2009-2010 Annual Report.