Image Analysis Ltd., a privately-held digital health software and services provider of medical imaging analysis in clinical trials and daily clinical practice, has completed a $5.2m venture financing with Danish Research Foundation (DRF) and RBV Capital.
Image Analysis Ltd. is a leader in the rapidly growing market for Magnetic Resonance Imaging (MRI) data quantification and analysis, helping partners to design and manage their clinical studies for the most effective use of resources while providing earlier, more convincing evidence of treatment effect with smaller patient cohorts. The company's software and services improve the accuracy of diagnostic assessments and research decisions for global pharmaceutical companies and clinical research professionals developing treatments for inflammatory musculoskeletal conditions, neuro-inflammation, oncology, cardiac perfusion and rare diseases.
This new financing will be used to expand the company’s global client base and to further develop Image Analysis’ proprietary software platform Dynamika and its Clinical Research services.
Dr. Olga Kubassova, Founder and CEO of Image Analysis commented: "We are pleased to see a growing number of clinical and research sites using Dynamika to score MRIs from patients with inflammatory musculoskeletal joint diseases, cancers, neuro-inflammatory and cardiac conditions. Dynamika is rapidly becoming a critical part of pivotal imaging trials. This financial and professional support from new investors will enable us to further expand our portfolio of algorithms for MRI scoring and grow our client base."
Alexey Konov, Managing Partner of RBV Capital commented: "We are delighted to bring our experience and industry knowledge to support the company's growth."
Andrey Kozlov, Chief Investment Officer of RBV Capital, who joins the Board of Directors of Image Analysis, further added: "I am looking forward to working with Image Analysis' outstanding team and its prominent Board Members. There is a prominent demand in biotech and pharma industry for superior imaging analysis capabilities and objective scoring systems like the one pioneered by Image Analysis's Founder to give reliable assessment of the treatment effect in clinical trials. We are excited to support the company's development in these markets."
"We welcome these new investors and board members whose experience and financial support will allow us to establish Image Analysis as the global leader in MRI quantification," added chairman of Image Analysis, Richard Barker, OBE.
About Image Analysis Ltd.
Image Analysis Ltd. (www.imageanalysis.org.uk) is a trusted long-term partner to many pharmaceutical companies and clinical research professionals assessing the efficacy of their treatments in clinical trials or daily clinical practice. Set-up in 2007 by a Computer Science PhD with a vision to see her mathematical algorithms in clinical use, the company has grown to become a global player in the medical imaging market. The software platform Dynamika, with proprietary and cutting-edge algorithms is currently used in clinical practice and research by leading Hospitals, CROs and bio-pharmaceutical companies to get precise quantitative assessment of the treatment efficacy in either trials or clinical practice.
About Danish Research Foundation
The Danish Research Foundation (Den Danske Forskningsfond) is dedicated to supporting technology innovations and ground breaking research through grant funding and equity investments in biotech and biopharmaceutical companies.
About RBV Capital
RBV Capital is a dedicated life sciences venture capital fund formed with participation of the capital of the Russian Venture Company and R-Pharm based in Moscow, Russia with partner offices in London, United Kingdom and Wilen, Switzerland. RBV Capital invests in diversified assets in pharmaceuticals, biologics, digital healthcare products and medical devices answering an unmet medical and market need with global potential.