One company is combining artificial intelligence and imaging to detect COVID-19 and other diseases. To do this, Quibim has closed €8 million ($9.3 million) in a new financing.
Valencia, Spain based Quibim’s seed funding round was co-led by Amadeus Capital Partners and Adara Ventures, with participation by Apex Ventures, Partech, Crista Galli Ventures, and existing shareholders, including Tech Transfer UPV, managed by Clave Capital and Juan Roig.
Quibim uses medical image postprocessing and extraction of imaging biomarkers enables hospitals and pharmaceutical companies to detect diseases early and systematically.
“Quibim is now at a scale-up point ready to grow internationally while maintaining great science at the core of our mission,” Angel Alberich Bayarri, founder and CEO of Quibim said in a release. “This latest round of funding will be used to boost the AI platform, our available algorithms, and high-value components, to provide a seamless, all-in-one solution supporting healthcare providers.”
Bayarri added, “Our new investors will open opportunities for us in new markets and help us to strengthen our brand internationally. We will be able to promote our new prostate, musculoskeletal, and oncology solutions and increase sales globally, by expanding our workforce over the coming year.”
The company said it has launched more than 20 algorithms for a range of conditions including cancer, Alzheimer’s, osteoarthritis, and liver disease. It has recently launched chest X-ray and CT scan products for COVID-19. Quibim Precision, its proprietary platform, extracts and quantifies disease-specific biomarkers from medical images with ultra-high accuracy.
AI is proving to be a useful tool for detecting COVID-19. In April, RADLogic’s released a study that showed its system could automatically and accurately detect COVID-19 and quantify the disease burden in patients.
Mayo Clinic has been in a few partnerships using AI to target COVID-19. In April, the clinic teamed up with Current Health to develop monitoring solutions that accelerate the identification of COVID-19 patients and predict symptom and disease severity.
A month after the Current Health partnership, Mayo Clinic began a collaboration with Ultromics to help rapidly assess patients diagnosed with COVID-19.
The two will use EchoGo Core, to analyze echocardiograms of COVID-19 victims, to map for the first time how COVID-19 virus attacks the heart with such deadly impact. The multi-site study will look at 500 COVID-19 positive men and women, aged between 18 and 89. These participants will have undergone a clinically indicated echocardiography exam during a three-month period.