Icometrix raked in more than 16 million euros in new funding, according to the Leuven-based brain imaging and analysis software developer. The money comes from a partnership led by Forestay Capital alongside Optum Ventures and existing investor Capricorn Venture Partners. This announcement comes three years after the company brought in 2 million euros in growth capital in order to increase sales and establish an international footing (link in Dutch).
Icometrix’s Icobrain software extracts clinically meaningful information from brain MRI and CT scans from patients with neurological disorders, such as multiple sclerosis, Alzheimer’s disease, dementia and traumatic brain injury. The specialized AI solution, which is both CE-marked and FDA-cleared (link in Dutch), has already been deployed in more than one hundred hospitals and imaging center networks worldwide, in addition to clinical studies some at the world’s top pharmaceutical companies.
“With Icobrain, medical images can be read faster, more consistently and in a more personalized fashion by quantifying the volume of brain structures and abnormalities,” says Wim Van Hecke, CEO of Icometrix. “One in three people will suffer from a brain disorder, often due to a chronic disease, leading to an immense burden for patients, friends, families, caregivers and society. Brain scans play a central role in patient diagnosis and monitoring, creating a huge need for objective and patient-specific evaluation of MRI and CT brain scan images with tools like Icobrain.”