StockMarketWire.com - Wound care technology group Spectral MD said it had secured additional funding of $18.8 million from the US Biomedical Advanced Research and Development Authority.

The funding would be used to expand a current clinical training study of Spectral MD's DeepView wound imaging system for burn wound healing assessment.

This contract option funding, under Option 1B of a current contract with BARDA, followed the $20.6 million awarded under Option 1A exercised by BARDA in March.

'We are grateful for the additional award of $18.8 million from BARDA which was originally expected for March 2022,' chief executive Wensheng Fan said.

'Due to the strong collaboration between BARDA, Spectral MD, and our clinical partners, we were able to have the successful kickoff of the study at the first five sites which has enabled the award of this funding earlier than anticipated.'


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