Vita Imaging

About the offering

Vita Imaging is a medical device company based in Fremont, California, developing AURA™, a patented non-invasive skin cancer detection device. The company was founded and is led by CEO and Chairman Thinh Tran, a Stanford graduate who previously founded Sigma Designs in 1982 and grew it into a NASDAQ-listed company with a $2B+ market cap before leaving in 2018. The COO is Victoria Reade, who has over 25 years of healthcare and medtech leadership experience, including securing FDA device approval for Ion Therapeutics. The CFO is Dzung Wright, with over 30 years of financial industry experience across medical, telecommunications, and technology sectors. AURA™ uses Raman spectroscopy to detect whether a skin lesion is benign or malignant in under 1.5 seconds through a three-step workflow that requires no cutting, anesthesia, or lab time. The technology is built on over 20 years of R&D, with $20M+ in research investment from academic and governmental institutions, and is protected by 8 issued patents. Vita Imaging holds exclusive licensing rights to technology developed at the BC Cancer Agency (BCCA) and the University of British Columbia (UBC), with peer-reviewed scientific validation from institutions including Harvard, Imperial College, and UBC. Clinical validation has been conducted in multi-site studies at Veterans Association hospitals. As of an April 2026 shareholder update, the FDA reclassified optical diagnostic devices for skin cancer detection from Class III to Class II effective April 24, 2026, enabling a more streamlined 510(k) pathway. The company is completing a Repeatability & Reproducibility (R&R) study with approximately 50 subjects, expected to finish by July 2026, and is targeting a 510(k) submission with FDA clearance aimed at Q4 2026. AURA™ is not yet FDA approved or commercially available. In May 2025, the American Medical Association (AMA) approved a Category III CPT code for AURA, effective January 1, 2026, positioning the device for future Medicare and private insurer reimbursement. The company has also passed an ISO 13485 Stage 1 audit, is undergoing Stage 2, and is working with BSI toward CE Mark certification, with Apotech appointed as Authorized Representative for the EU, UK, and Middle East. International expansion into the UK, UAE, and Saudi Arabia is planned upon CE Mark approval. The intended revenue model includes device sales, disposable test equipment sales, spectral data licensing, and potential AI integrations. The addressable market is described as 290,000+ potential U.S. points of care across dermatology and primary care. The global cancer diagnostics market is projected to reach $155.07B by 2030, with the skin cancer segment estimated at $13.23B+. The company has raised $2M+ via prior crowdfunding rounds and raised approximately $400,583 in its most recent Regulation Crowdfunding round on StartEngine, which closed February 4, 2026. The offering was priced at $5.70 per share with a company valuation of $42.52M, offering common stock equity.

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