Feedback Medical Secures £2M Funding to Advance Medical Imaging Platform Bleepa™ Ahead of IPO Filing

On August 15, 2019, VCBeat (WeChat ID: vcbeat) learned from foreign media reports that medical imaging technology company Feedback Medical announced the completion of a £2 million financing round (the specific round was not disclosed). The investors for this round were not disclosed.

It is reported that Feedback Medical will use the proceeds from this financing round to develop the BleepaTM medical imaging device and expand its corporate scale and product market.

Headquartered in Cambridge, UK, Feedback Medical is a specialized medical imaging technology company. The company primarily develops Medical Image Analysis devices based on software and information technology to advance the field of medical imaging. Feedback Medical’s products streamline clinical workflows and provide treatment recommendations for various diseases, thereby assisting radiologists, clinicians, and medical researchers in their professional practice. The company delivers medical technology services to clients worldwide and boasts over 15 years of research and development experience in the medical imaging sector.

Feedback Medical is a bellwether in the field of medical imaging, having developed a range of products including TexRAD and Picture Archiving and Communication Systems (PACS).

TexRAD is a patented medical software tool that extracts and quantifies texture features from radiological images to assist physicians in studying various types of tumors. In the field of radiology, TexRAD helps identify biomarkers in medical images that are difficult to distinguish with the naked eye. TexRAD has received numerous international awards, and more than 100 academic publications have discussed its underlying technologies. Over 50 renowned institutions worldwide rely on TexRAD for their research activities. Feedback Medical has recently launched TexRAD Lung, an analytical solution for lung cancer, which has obtained CE certification in the European Union.

PACS is a category of medical image analysis products developed based on Feedback Medical’s Cadran technology platform, primarily serving hospitals and research institutions. This product is flexible and user-friendly, enabling users to process images through various imaging modalities such as CT and PET scans. PACS has undergone a series of clinical trials and has been deployed in Europe.

Feedback Medical works closely with medical professionals, including medical imaging researchers, radiologists, and healthcare IT specialists, to overcome barriers in the field of medical imaging. The company has also maintained a decade-long partnership with Future Processing, a software technology enterprise, to jointly develop advanced systems such as quantitative analysis tools for medical images, thereby providing technical support to the healthcare industry.

Dr. Alastair Riddell, Non-Executive Director of Feedback Medical, said: “I am delighted to see investor support for our new medical imaging product, Bleepa™. This innovative device was designed by Feedback Medical CEO Tom Oakley, developed on the Cadran platform with assistance from partner Future Processing. We believe that Bleepa™ will drive the company’s growth and even transform the future landscape of the medical imaging sector.”

(Compiled by Xu Xiaoxue)