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UK-based medtech Perspectum bags $36M for its AI-powered advanced imaging tech

A precision health company developing medical imaging tools to improve the diagnosis of metabolic diseases and cancer, Perspectum, has completed the first close of its Series C funding round. The company’s $36 million investment round was led by Oppenheimer Holdings. With this, the total funding raised by the company accounts for $120 million.

Expansion plans ahead

Perspectum is working to expand its footprint across the country and grow its customer base. In addition to scaling up its US operations, Perspectum will use the new funding to accelerate its product pipeline for multiorgan inflammatory conditions and oncology.

“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.”

“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 revolutionising 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.

Partnership with Nuance Communications

Perspectum was founded by Rajarshi Banerjee, Matthew Robson, and Michael Brady in 2012 in Oxford. It announced a collaboration with Nuance, a Microsoft company late last year.

This new collaboration will help accelerate adoption of Perspectum’s non-invasive quantitative multiparametric MR (Magnetic Resonance) software services across the over 12,000 US health care facilities using Nuance’s expanding Precision Imaging Network.

Better care for patients with chronic illnesses

Perspectum delivers digital technologies that help clinicians provide better care for patients with liver disease, diabetes, and cancer. With a strong focus on precision medicine using advanced imaging and genetics, it aims to empower patients and clinicians through quantitative assessments of health enabling early detection, diagnosis, and targeted treatment.

Its 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.

With a diverse team of physicians, biomedical scientists, engineers, and technologists, Perspectum offers a way to manage complex health problems at scale.

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