Icometrix Raises $18 Million to Advance Standardized Brain MRI Analysis with AI-Powered icobrain Platform

It is reported that icometrix completed a financing round of over €2 million in January 2016, with the proceeds to be used to expand the global adoption of its clinical product, MSmetrix.

Icometrix is an affiliate of the University Hospitals Leuven and Antwerp, founded by Dirk Loeckx and Wim Van Hecke in 2011. Icometrix is a medical services company that provides clinicians with standardized measurements of patients’ brain MRI scans. The company is headquartered in Leuven, with an office in Boston, United States.

icometrix is an expert in image analysis for clinical trials and research, with its clinical product MSmetrix gaining market recognition in the European Union and other countries, including Canada, Brazil, and Australia. Furthermore, icometrix has achieved ISO 9001, ISO 13485 (medical devices), and ISO 27001 (information security) certifications. Imaging biomarkers continue to yield new insights into neurological diseases. Recently, imaging biomarker results have served as primary endpoints in clinical trials for new drug development. For these reasons, large volumes of brain imaging data are transferred to icometrix for rapid, high-quality processing.

icometrix’s icobrain software has obtained CE certification and FDA clearance, enabling the extraction of clinically meaningful information from brain MRI and CT scans of patients with neurological disorders such as multiple sclerosis, Alzheimer’s disease, and traumatic brain injury. The icobrain artificial intelligence solution has been deployed in more than 100 hospitals and imaging center networks worldwide.

Wim Van Hecke, CEO of icometrix, stated, “icobrain enables faster, more consistent, and personalized interpretation of medical images by quantifying the volume of brain structures and abnormalities. One in three people will develop a brain disease, often caused by chronic conditions. Patients with brain diseases impose a substantial burden on their friends, family, caregivers, and society. Brain scans play a central role in patient diagnosis and monitoring, thus creating significant market demand for tools such as MRI and CT brain imaging.”

Frederic Wohlwend, Managing Partner at Forestay Capital, stated: “Forestay is delighted to collaborate with the management team at icometrix and help drive its growing list of success stories. This technology is transforming how we diagnose, monitor, and treat patients with brain disorders, and we see immense potential in enhancing neurological diagnostics, making complex patient care pathways faster and more effective. Our investor, Waypoint Capital Group, brings deep expertise in the healthcare sector and owns Affidea, Europe’s largest network of imaging centers, which has already partnered with icometrix to develop standardized solutions for large-scale deployment across Europe. The future value potential for icometrix is substantial.”

Heather Roxborough, Partner at Optum Ventures, stated, “We firmly believe that data can aid in the diagnosis, monitoring, and treatment of neurological disorders. By bringing icometrix’s innovative AI-based brain imaging solutions to clinicians and radiologists worldwide, we can help improve the lives of millions of patients with brain diseases.”

Forestay Capital is a venture capital firm dedicated to investing in technology-driven enterprises, primarily focusing on companies in the fields of software innovation and data-driven solutions across Europe, Israel, and the United States.

Optum Ventures is a venture capital firm that provides funding and strategic guidance to startups in the healthcare industry.

Capricorn Venture Partners, established in 1993, is an independent venture capital fund management firm that invests in innovative companies leveraging technology as a competitive advantage in the European market. The firm boasts deep technical expertise and extensive industry experience, with an investment team composed of seasoned investment managers.

(Compiled by Song Chenchen)