ScreenPoint Medical has raised $28 million in a Series C financing. New York-based Insight Partners led the round, with support from existing investors, including ScreenPoint Medical's founders Siemens Healthineers and Oost NL, and participation from the U.S. University Radiology Group (URG). ScreenPoint Medical is a spin-off of the Radboudumc.
ScreenPoint Medical is an AI technology company developing advanced image recognition and machine learning software to improve early detection of breast cancer. The new funding will be used by the company to accelerate the commercial growth of the company's Transpara AI software and improve the early diagnosis of breast cancer. One in eight women will develop breast cancer in their lifetime and early detection is the best way to increase survival rates. The investment will enable further research & development, as well as an expansion of the product portfolio.
Expansion in the US
"We are excited about this funding and the opportunity to work with the Insight Partners team to further scale the company," said Nico Karssemeijer, CEO of ScreenPoint Medical. "We are also pleased with URG's participation in this round, which shows confidence in the technology we are bringing to market. The practice of breast imaging is different in the US than in the EU. Collaboration with URG provides clinical expertise that is extremely valuable for further expansion in the US. This round puts ScreenPoint Medical in an excellent position to become the leading provider of AI-driven breast imaging solutions."
Source: ScreenPoint Medical