Perspectum, a precision health company which develops medical imaging tools to improve the diagnoses of metabolic diseases and cancer, has completed the first close of its Series C funding round. The new $36 million investment was led by Oppenheimer Holdings. The Series C funding brings the total amount raised since inception to circa $120 million.
Since the beginning of 2021, 77 million US adults covered by Medicare and commercial plans have had access to LiverMultiScan, the company’s flagship diagnostic tool to assess and monitor chronic liver disease. The coverage and established reimbursement codes have fueled LiverMultiScan’s adoption by several major US hospitals. Perspectum is working to expand its footprint across the country and grow its customer base. They announced a collaboration with Nuance, a Microsoft company, in December 2022.
“We are excited to have Oppenheimer and British Patient Capital join our mission to create safer and more accurate imaging technologies that will help clinicians shorten patients’ diagnostic and treatment journeys,” said Rajarshi Banerjee, MD, PhD, CEO of Perspectum. “This new funding will help us to continue innovating new products that will make healthcare safer by providing non-invasive alternatives to biopsy, totally changing how and when we can see and treat many diseases.”
The software products enhance the capabilities of a standard magnetic resonance imaging (MRI) machine, enabling it to capture multiparametric mapping data which allows its AI-driven software to measure organ inflammation with greater precision, aiding diagnosis and the monitoring of patients with chronic diseases.
“Perspectum is a truly disruptive company with medical imaging software that can dramatically improve the standard of care for millions of patients, as well as provide a higher level of decision support for physicians,” added Robert Lowenthal, President of Oppenheimer Holdings. “We anticipate Perspectum will continue to lead the field of AI-enhanced imaging for years to come.”
In addition to scaling up its US operations, the company will use the new funding to accelerate its product pipeline for multiorgan inflammatory conditions and oncology.
“Life sciences and deep tech are two bright spots within the UK’s innovation economy, and Perspectum is bringing the two together as they pioneer technological developments that are revolutionizing the patient experience. Through our Future Fund: Breakthrough programme, we are excited to work with an industry-leading team at Perspectum and support their global growth ambitions,” concluded Catherine Lewis La Torre, CEO of British Patient Capital.
Perspectum, a global medical technology company with offices in the US, the UK, Portugal, and Singapore, delivers leading digital technologies that help clinicians provide better care for patients with chronic metabolic diseases, multi-organ pathology, and cancer. With a strong focus on precision medicine using advanced imaging and genetics, our vision is to empower patients and clinicians through quantitative assessments of health enabling early detection, diagnosis, and targeted treatment. With a diverse team of physicians, biomedical scientists, engineers, and technologists, Perspectum offers a way to manage complex health problems at scale.