Arterys Inc., a San Francisco, CA-based company dedicated to deep learning in medical imaging, closed an over $12m Series A financing.
Backers included GE Ventures, the Stanford-StartX Fund (which was co-founded by the StartX accelerator, Stanford University and Stanford Health Care) and Norwich Ventures, which joined Emergent Medical Partners who led the round, and existing investors Asset Management Ventures, AME Cloud Ventures and Morado Ventures.
The company plans to use the proceeds to expand the commercial operations of its visualization and quantification algorithm for medical imaging.
Led by Fabien Beckers, Ph.D., founder and CEO, Arterys has created diagnostic software that connects to a standard MRI machine to allow non-invasive, precise quantitation of blood flow leveraging the latest technologies in cloud computation.
Patients undergo an MRI scan of the chest in 10 minutes and the data is sent to a HIPAA-compliant cloud server for computational analysis via a simple web browser.
Using deep learning and artificial intelligence, the 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 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.
The system received its CE Mark and market clearance from the U.S. Food and Drug Administration in March 2014.