Spruce Medimaging Secures Tens of Millions in Series A Funding to Advance Independent Medical Imaging Assessment Services for Clinical Research

VCBeat has learned thatAugust 2024, A Leading Provider of High-Quality Third-Party Medical Imaging Assessment Services in the Field of Clinical ResearchSpruce Medical, announcing the completion of its tens-of-millions-yuan Series A financing round,This marks the company's entry into a new phase of development.Hangzhou Municipal People's GovernmentPlayed a pivotal role in this financing round by leveraging investment attraction policies to provide Spruce Medical with a favorable development environment and robust support.

This round of financing will accelerate the upgrade and iteration of Spruce’s SPRUCE medical imaging assessment system, facilitate the gradual refinement of the company’s international standardization framework, and support the recruitment of high-caliber talent. Spruce will continue to deepen its expertise in independent review center (IRC) applications across therapeutic areas including oncology, radiopharmaceuticals, medical aesthetics, orthopedics, and ophthalmology, while accelerating market expansion both domestically and internationally.

Spruce Medimaging centers its operations on clinical trial experts, leading domestic and international clinical specialists, and pioneers in medical imaging. By integrating a professional medical team, an operational team, and an assessment system platform, the company achieves an all-in-one solution for project management, data processing, assessment, and efficacy analysis, providing clients with efficient independent review solutions and professional services. Currently, Phase III projects account for 35% of its active portfolio, with oncology projects comprising 61% and non-oncology projects 39%. Spruce Medimaging’s angel round was led byYingke CapitalLeading investor, Spruce Medical is a member unit of the Clinical Trial Contract Research Organization Branch of the China Association for Quality Management in Medicine, and serves as the lead convener of the CMAC Central Imaging IRC Alliance. It has also obtained ISO 27001 (Information Security Management System) certification.

Mr. Xiao Zinan, President of Spruce MedicalExpressing gratitudeHangzhou Municipal People's Governmentas well as includingTaikun Fund, Guanyou Capital...and other investment institutions in Spruce Medical. Spruce Medical focuses on the high-potential Independent Reading Center (IRC) market. The capital injection in this round fully demonstrates that various investment institutions are optimistic about Spruce Medical’s long-term development and have full confidence in its capabilities and future potential in the IRC field. Spruce Medical will further explore innovative applications and development of IRCs in more areas, accelerate market expansion, and is committed to providing higher-quality services to sponsors and partners, thereby safeguarding new drug research and development.