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Qure.ai announces strategic investment by Merck Global Health Innovation Fund to boost innovation of healthcare AI
AI to power early identification and management of lung cancer and other diseases
NEW YORK, June 25, 2024 (GLOBE NEWSWIRE) -- Merck Global Health Innovation Fund has made a strategic investment into Qure.ai as part of its Series D round. This funding will go towards investing into foundation models for artificial intelligence (AI) in imaging and expanding geographical reach of Qure.ai’s AI-powered imaging solutions into the US market.
Globally Qure.ai has delivered AI-augmented detection for Tuberculosis (TB), Lung Cancer and Stroke at over 2700 imaging sites, across more than 90 countries. It has clearance from the United States Food and Drug Administration's (FDA) Center for Devices and Radiological Health (CDRH) for its AI-powered Chest X-ray lung nodule detection solution (qXR-LN); breakthrough device designation for TB solution (qSpot-TB); an AI-enabled head CT tool to expedite the detection, triage and quantification of traumatic brain injuries and stroke (qER-Suite); plus multiple other plain film X-ray emergency room findings.
With ever growing patient populations and burden of disease on health systems continuing to exert pressure, healthcare AI presents a huge opportunity to power early identification and management.
“Healthcare AI provides the opportunity to review people faster as we have shown in patients with TB in low-and middle-income countries, as well as lung cancer and emergency triage in the UK’s National Health Service,” said Prashant Warier, Co-founder and CEO of Qure.ai. “This strategic investment in Qure.ai from the Merck Global Health Innovation Fund will enable us to expedite our work in foundation models and expand the reach of our AI both geographically and demographically.”
“Initial real-world studies and recent FDA clearances have provided compelling evidence for the potential of Qure.ai’s medical imaging AI innovations,” said David M. Rubin, Managing Director, Merck Global Health Innovation Fund LLC. “AI has the potential to power the early diagnosis of lung cancer, TB or Stroke giving the best chance of survival outcomes and improving quality of life for patients.”
Merck had previously invested in Qure.ai, as part of its impact investing portfolio led by the Merck Office of Social Business Innovation.
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Georgina Wright - Georgina.wright@qure.ai
