Arterys Inc, a medical imaging company using machine learning to create diagnostic software, closed its Series A financing round at over $12 million. The investment round was led by Emergent Medical Partners with participation from new investors GE Ventures, Stanford-StartX Fund and Norwich Ventures as well as existing backers Asset Management Ventures, AME Cloud Ventures and Morado Ventures.
SAN FRANCISCO, March 14, 2016 /PRNewswire/ — Arterys Inc., a privately-held company dedicated to deep learning in medical imaging, today announced the final close of its Series A financing, bringing the total Series A funding to over $12 million. GE Ventures, the Stanford-StartX Fund (which was co-founded by the StartX accelerator, Stanford University and Stanford Health Care) and Norwich Ventures join Emergent Medical Partners who led the round, with additional participation by existing investors Asset Management Ventures, AME Cloud Ventures and Morado Ventures. Arterys plans to use the proceeds to expand the commercial operations of the company’s visualization and quantification algorithm for medical imaging.
“This financing includes premier organizations in the healthcare field who recognize the game-changing value of our solution to revolutionize medical imaging and improve patient care,” said Fabien Beckers, Ph.D., founder and CEO of Arterys. “We plan to staff strategically as we expand our commercial presence both in the United States and Europe, while at the same time applying our medical imaging solutions beyond cardiac care in neurology and oncology.”
Although cardiovascular disease is the leading cause of death in the United States, there is no reliable non-invasive comprehensive diagnostic tool. The non-invasive standard of care is the echocardiogram, which is a validated first line of diagnosis, but lacks blood flow accuracy. The alternatives to obtain more precise quantitative measures remain expensive, time consuming and/or invasive.
Arterys has created revolutionary diagnostic software that connects to a standard MRI machine to allow non-invasive, precise quantitation of blood flow quickly leveraging the latest technologies in cloud computation. Patients undergo a simple MRI scan of the chest in 10 minutes and the data is sent to a secure, HIPAA-compliant cloud server for computational analysis via a simple web browser.
Using deep learning and artificial intelligence, the Arterys solution allows the clinician to interact with the data, approve quantitative clinical analysis suggested by the software in a few minutes to assess patients with cardiovascular disease. Specific uses of this software include assessing patients with structural heart disease, congenital heart disease, carotid/neurovascular and renal vascular disease.
The Arterys™ System is available for research use at leading centers around the world and will be commercially available globally to the thousands of installed and new GE Healthcare MRI scanners through the application called ViosWorks* in the fall of 2016.
*Not yet commercially available
About the Arterys™ Platform
Arterys™ is a cloud-based medical imaging, machine learning platform designed to deliver ultra-fast visualization and quantification with automatic analysis. The system received its CE Mark and market clearance from the U.S. Food and Drug Administration in March 2014. The Arterys platform is currently being used for research in several leading hospitals in the United States and Europe, and will be available through ViosWorks in up to 7,000 GE magnetic resonance imaging machines in the second half of 2016. To view videos of the Arterys™ system, please click here and here.
About Arterys Inc.
Arterys Inc. opens medical imaging to the power of the cloud. Arterys developed 4D Flow technology, which generates precise measurements of blood flow noninvasively and non-radiatively anywhere in the body. The company’s medical imaging SaaS analytics platform combines the best of cloud computation and machine learning to improve diagnostic and therapeutic decisions. This is the first solution to enable physicians to visualize and analyze blood flow inside the heart in 3D with automatic, interactive reporting. Arterys plans to take its ultra-fast visualization, unlimited file size, real-time automated quantification, peer-based learning algorithms and time savings to other medical applications. By making imaging diagnostics quantitative, intelligent and available, Arterys seeks to improve the lives of millions of patients. For more information, please visit www.arterys.com. Follow Arterys on Twitter at @ArterysInc at https://twitter.com/ArterysInc.