Kheiron Secures $22M Series A Funding to Advance AI-Powered Breast Cancer Diagnostic System

On September 26, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical technology company Kheiron Medical Technologies (Kheiron) announced the completion of a $22 million Series A financing round. The round was led by Atomico Investment Holdings (Atomico), with participation from Greycroft, Connect Ventures, Hoxton Ventures, and Exor Seed.

Following the completion of this financing round, Kheiron will continue to develop its AI diagnostic system to assist radiologists in screening for breast cancer.

Kheiron, founded in 2016 and headquartered in London, UK, is a medical technology company. The company primarily develops AI-based disease screening technologies and software to assist radiologists in detecting cancer and improving patient clinical outcomes. Kheiron combines expertise in radiology with machine learning to enhance diagnostic capabilities across healthcare institutions.

Machine learning, the core of artificial intelligence, is a multidisciplinary field encompassing probability theory, statistics, and algorithmic complexity theory. Its integration with medicine can reduce healthcare costs and deliver superior medical services to patients. By leveraging historical and real-time data to build models, machine learning enables rapid data analysis and result generation. With this technology, healthcare institutions can significantly enhance the accuracy and precision of disease screening, analysis, diagnosis, and treatment, thereby comprehensively improving healthcare delivery.

Kheiron’s flagship product is Mia, a breast disease screening tool that assists radiologists in determining whether patients require further examination. Mia’s machine learning and data processing technologies can be directly integrated into existing radiology workflow software to enable automated patient screening.

Clinical trial results for Mia demonstrate that its breast cancer screening capabilities have reached a leading level, and the system is currently submitting an application for FDA market approval. Kheiron plans to conduct clinical studies of Mia with the UK’s National Health Service (NHS) in early 2020 and to carry out pre-commercialization pilot studies in collaboration with US academic medical centers.

Breast cancer is one of the most common cancers among women, with approximately 2 million new cases globally in 2018, making it a significant public health issue. Since the late 1970s, the global incidence of breast cancer has been on the rise. In the United States, one in eight women will develop this disease. As with other cancers, early screening for breast cancer is crucial for timely treatment. Kheiron has announced plans to conduct large-scale clinical trials of its breast cancer screening technology worldwide.

Atomico, founded in 2006 and headquartered in London, UK, is a venture capital and financial services firm primarily focused on technological innovation.

Greycroft, established in 2016 and headquartered in New York, USA, is a venture capital and private equity firm. The company is dedicated to investing in the internet and mobile markets.

Connect Ventures, established in 2012 and headquartered in London, UK, is a venture capital and financial services firm that primarily provides funding support to startups.

Hoxton Ventures, established in 2013 and headquartered in London, UK, is a venture capital and financial services firm. The company specializes in investing in technology startups.

Exor Seed, headquartered in New York, USA, is a venture capital and financial services firm. The company primarily invests in sectors such as technology, healthcare, automotive, and industry.

(Compiled by Xu Xiaoxue)