Therapixel, a French startup specialising in AI-based medical imaging, has nabbed €15 million in Series B funding. With this round, the total funding raised by the company totals €20 million. The round was led by Crédit Mutuel Innovation and CapHorn joined by Verve Ventures (that invested in Minut), Sham Innovation Santé and historical investors Omnes, IT-Translation, M-Capital and Région Sud Investissement.
US expansion plans
This fundraising will enable Therapixel to accelerate the commercial presence of its Artificial Intelligence reading solution for 2D/3D mammography, with a focus on the United States, launch more unique features for MammoScreen, and push even further the boundaries of its intelligent reading aid for mammography.
Matthieu Leclerc-Chalvet, Chief Executive Officer of Therapixel stated: “We are very satisfied to close this new round of financing with investors active in the field of digital health. These funds will allow us to grow our American team with new sales and support people and to ramp up our commercial activities. With an already strong pipeline, Therapixel is poised for significant growth and will have a decisive impact on breast cancer screening.”
Pierre Fillard, Chief Scientific and Technology Officer and Founder of Therapixel continued: “This is a major step for Therapixel and I am proud of the achievements of our teams in collaboration with radiologists partners. We will accelerate the launch of a new generation of AI that will allow women to benefit from an earlier detection with less anxiety and radiologists to be assisted in the ever-growing demand for imaging. We will also advance the regulatory and clinical developments that will solidify our leading position as the AI solution of choice for radiologists reading mammography”
Jérôme Féraud, Director of healthcare investments and Tanguy Besson, Associate at Crédit Mutuel Innovation, continued: “Beyond the technological performance of the solutions developed by Therapixel, it became obvious for us to support the deployment of MammoScreen that helps improve breast cancer detection, at a time when women are in a particularly stressful situation. The overall ergonomic of the solution brings the radiologists a valuable image analysis tool that allows them to optimize their time and focus their expertise on the specifics of the case.”
François Santi, Principal at CapHorn continued: “We are very pleased to support Therapixel in this new round of strategic investment, in collaboration with several experienced investors in the field of digital health. We followed Therapixel for several months and were impressed by the capability of execution of the team and their achievements during this period. We are very happy to support Therapixel’s commercial expansion in the United States, and help the company establish a new standard in breast cancer detection.”
AI for early breast cancer screening
Founded in 2013 by Olivier Clatz and Pierre Fillard, Therapixel has emerged as one of the leading startups specialising in artificial intelligence applied to medical imaging. It operates with the aim to develop a digital radiologist that can deliver a performance that is on par with the best experts.
Therapixel is the designer and supplier of MammoScreen, an Artificial Intelligence software reading aid for mammography. Already, it is being deployed across large networks of breast cancer screening clinics. MammoScreen uses a unique score, MammoScreen Score to signal the level of suspicion of a mammogram. This makes it possible to confirm the lesions that are certain and to save precious time with a faster reading of benign cases. It enables radiologists to feel more confident in their decision and spend more time on difficult cases that require more attention.
Also, it has developed Fluid, a medical imaging software for touchless medical images navigation in operating rooms. This tool allows surgeons to visualise X-rays, CT, MRI, etc. and to navigate within the interface remotely using gestures. This prevents sterile gloves from contamination by computing equipment and saves time in accessing medical images needed during the procedure.