DermaSensor Inc.

About the offering

DermaSensor Inc. is a Miami, FL-based medical technology company that has developed the first and only FDA-cleared automated skin cancer detection device designed for use by non-specialist clinicians, particularly primary care physicians. The device uses AI-powered Elastic Scattering Spectroscopy — a technology originally pioneered at Boston University — to scan suspicious skin lesions using pulses of light across 47 wavelengths, capturing cellular and sub-cellular data beneath the skin's surface. It returns an objective risk result in approximately 30 seconds, without patient discomfort. The device is also CE-marked for European markets and has a collaboration in place with England's NHS. The company was co-founded by Dr. Maurice Ferre (Chairman), a multi-exit medtech CEO who previously sold MAKO Surgical to Stryker for $1.65B and Visualization Technology to GE, and CEO Cody Simmons, a Brown University-trained bioengineer and former Genentech business development leader. The broader commercial and clinical team includes alumni from Fitbit, Johnson & Johnson, Qualcomm, Genentech, Optum, and Abbott. DermaSensor launched commercially in May 2024 and operates on a subscription (Hardware-as-a-Service) model, with clinicians paying $199–$399/month based on usage. Medicare reimburses $198 per procedure, and the company estimates the average practice generates over $24,600/year in additional gross revenue from billing codes. Paid devices tripled in 2025, with contracted ARR reaching $1M by year-end 2025. The company projects contracted revenue to at least triple again in 2026, driven by a national distribution partnership with 500+ reps, ongoing health system deployments (10 systems under contract, hundreds of practices active), and European commercialization. The device has scanned over 40,000 lesions and is supported by 9 published clinical studies showing it reduces missed cancers by 50–68%. DermaSensor has 5 patents covering core detection methods, calibration, and algorithms. The company has raised $20M to date from investors including Pier 70 Ventures ($750K invested), Kern Venture Group, and GenHenn Venture. It has received recognition from TIME (Best Invention of the Year), Inc. (Best in Innovation, alongside Anthropic and Nvidia), Edison Awards, and SXSW, and has been featured in Forbes and CBS. The total addressable market is estimated at $8B+ across the US and Europe, serving 1.5M+ frontline clinicians. The US addressable clinician base is currently ~300,000 primary care physicians, with a planned label expansion to nurse practitioners and physician assistants that would grow the addressable base to nearly 1,000,000. Four additional algorithm programs are in development on the same hardware, including a melanoma-optimized algorithm. The company reaches profitability at 2,500 active devices, with a projected 94% lifetime gross margin per device beyond that threshold. The Wefunder campaign had raised approximately $700K of a $749,999 goal at the time of this summary.

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