Arterys completes Series A with $12 million
March 20, 2016 – 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.