PVmed, a Guangzhou, China-based artificial intelligence (AI) cancer treatment company, raised US$14M in Series A funding.
The round was led by Cherami Investment Group, Philips, JHF Investment, COCOCAPITAL Corporation, and Strategy Capital. Xiaolin Wei, General Partner at Cherami, and Bill Chen, Senior Vice President of Philips Greater China and General Manager of Philips Precision Diagnosis Business Group, will join the PVmed Board of Directors.
The company intends to use the funds to further develop its AI cancer treatment product portfolio and ecosystem, to accelerate the adoption of its AI-defined cancer surgery and radiotherapy workflow software and hardware products by hospitals and medical technology companies.
Launched in May 2017, PVmed has developed a portfolio of AI-defined cancer treatment workflow products. The products automatically process and prepare three-dimensional (3D) computed tomography scan (CT) and magnetic resonance imaging (MR) data to help doctors plan and treat cancers (such as lung cancer, breast cancer, nasopharyngeal cancer, cervical cancer, and rectal cancer) more precisely and much faster.
Its AI cancer treatment portfolio includes three solutions:
- iRT for Radiotherapy
- iSA for Surgical Oncology
- iCS for Customized Oncology Software
PVmed products are currently deployed at over 200 hospitals in China and have now processed over 200,000 cancer patients. The company recently completed a sales and collaboration agreement with Tianjin Medical University Cancer Institute and Hospital, one of the largest cancer centers in China, performing 32,000 surgeries and hosting 1.3 million outpatient visits annually.
FinSMEs
23/12/2022