Perspectum will also use the proceeds to expand the CRO business as well as develop additional products for biliary disease, diabetes and cancer
Sample cT1 images from LiverMultiScan. (Credit: Business Wire.)
UK-based medical software provider Perspectum has closed a $36m financing round, co-led by the Blue Venture Fund (BVF) and HealthQuest Capital,
The funding round saw participation of new investors including Oxford Science Innovation, Puhua Capital and the University of Oxford as well as other existing investors.
Blue Venture Fund managing director Thomas Hawes said: “Perspectum offers an innovative imaging technology which will help curb the staggering morbidity and mortality associated with Nonalcoholic Fatty Liver Disease.
“Perspectum is uniquely positioned to advance pharmaceutical development, inform clinical care, and improve the patient experience. We believe Perspectum has the opportunity to become a market leader in imaging biomarkers and hepatic disease. We are thrilled to partner with Perspectum’s outstanding management team and HealthQuest Capital.”
LiverMultiScan is the only FDA approved technology that accurately detects liver diseases
Perspectum is an imaging-focused Contract Research Organization (CRO) company that supports biopharmaceutical companies developing assets in liver and metabolic diseases.
The company will use the proceeds from funding to commercialise its first diagnostic product LiverMultiScan device for clinical use, expand the CRO business along with developing additional products for biliary disease, diabetes and cancer for both clinical and CRO applications.
LiverMultiScan is a FDA approved technology that uses software to extract quantitative data from current MRI scans to help the detection of chronic liver disease with accurate assessment of liver tissue.
The technology is said to improve the diagnostic pathways for liver disorders, including non-alcoholic fatty liver disease (NAFLD) and non-alcoholic steatohepatitis (NASH).
Perspectum founder and chief executive officer Rajarshi Banerjee said: “We are excited to have Blue Venture Fund and HealthQuest Capital as lead investors in this financing.
“Blue Venture Fund’s invaluable insight in navigating reimbursement and coverage decisions, and HealthQuest’s experience ramping growth stage healthcare companies and specific experience in clinical diagnostics and clinical trial services will be enormously beneficial to our business.”