Subtle Medical Raises $12.2 Million in Series A Funding to Expand Its AI Imaging Solutions
Subtle will use the funds to grow their product portfolio and support the global demand to make medical imaging faster and safer for all.
MENLO PARK, Calif., Nov. 19, 2020 /PRNewswire/ — Subtle Medical, a healthcare technology company, just announced its latest funding round – a $12.2 million Series A investment led by 3E Bioventures Capital with participation from Fusion Fund, Data Collective, Delta Capital, Tsingyuan Ventures and continued support from other seed investors. Several key European investors also participated in the round, including Crista Galli Ventures (UK) and Nina Capital (Spain).
Subtle Medical has the industry’s first AI-powered software solutions for vendor-agnostic medical imaging enhancement, SubtleMR™ and SubtlePET™, both FDA-cleared and CE-marked. Centers now have the ability to fulfill the crucial demand of superior image quality on their regular and accelerated scan protocols. Higher quality and more efficient imaging enables increased workflow productivity and a better patient experience.
“Subtle Medical is paving the way for a new generation of AI-powered medical imaging. In a short time, the company has proven to have a profound impact on the radiology community, and the value they bring to improve patient care and increase scanner capacity is instrumental and timely in the current healthcare environment,” said Dr. Lue Sun, Vice President at 3E Bioventures. “With their ambitious and promising team leading the way, we believe our partnership will help accelerate their growth.”
Over 50 sites in the US and abroad have adopted Subtle’s technology, including Affidea, the largest imaging provider in the EU, solidifying its clinical and economic impact. The new round of financing will be used to pursue rapid geographic expansion to meet consumer demand, which has seen an uptick since Covid-19 began as centers require more flexibility to perform additional cleaning protocols between patients and the ability to increase capacity to accommodate the surge in postponed scan volume.
Recent studies published in various journals using real world data further validate the clinical efficacy and safety of Subtle’s AI algorithms. The new financing will further boost Subtle’s product pipeline, which includes SubtleGAD™ for lowering gadolinium dose in contrast-enhanced MRI, and technologies in image-guided therapies and pharmaceutical applications.
Dr. Enhao Gong, Founder & CEO, Subtle Medical, added, “Our mission is to make medical imaging better, safer and more comfortable for patients while creating new workflow efficiencies for hospitals and imaging centers. Having the financial support and domain expertise in healthcare and biopharma from 3E Bioventures will help us execute our vision more rapidly and with global impact.”
Subtle Medical will showcase their product portfolio at the 2020 Virtual RSNA conference. Click here to view their presentation schedule and learn more.
About Subtle Medical
Subtle Medical, Inc. is a healthcare technology company with deep learning solutions that improve workflow efficiency and patient experience. The company has the first AI software solutions FDA-cleared for medical imaging enhancement, SubtlePET™ and SubtleMR™. It was named CB Insights Top AI 100 and Digital Health 150 company in 2020 and is an Nvidia Inception Award Winner. Current clinical partners include UCSF, Hoag Hospital, Mt. Sinai, Sickkids, Radnet, DASA, Tiantan Hospital, and Middlesex Hospital, among others. Subtle is currently in collaboration with top-tier medical device vendors, including Siemens Healthineers, GE Healthcare, Philips (China) and several pharmaceutical partners. Subtle was founded in 2017. Seed investors include Bessemer Venture Partners, Zhenfund (Momentor Ventures), Data Collective, Breyer Capital, and Baidu Ventures, among others. For more information, please visit subtlemedical.com or email firstname.lastname@example.org.
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SOURCE Subtle Medical, Inc.