Mirada Medical Secures £6M Funding to Advance AI-Powered CT Contouring Software for Cancer Therapy

VCBeat (WeChat Official Account: vcbeat) recently learned that Mirada Medical (“Mirada”), a medical imaging software company headquartered in Oxford, UK, has announced securing £6 million in equity financing. The round was led by Apposite Capital, with participation from Mirada’s founding investor AlbionVC and other private investors. The funding will support Mirada’s development of artificial intelligence (AI)-based medical imaging software to enhance the speed and accuracy of cancer treatment, while enabling clinicians to deliver more personalized care to patients.

Mirada is a premier international brand in the field of medical imaging. The company primarily provides comprehensive software solutions for diagnostic imaging, radiation oncology, and interventional medicine, helping healthcare professionals utilize medical images more effectively to improve patient care. Mirada focuses on simplifying technically complex image processing tasks, with the goal of enabling clinicians to diagnose diseases more accurately, assess treatment responses, and plan radiation therapy or surgical interventions. Mirada carefully selects some of the world’s leading healthcare companies to manufacture its products, which are then sold globally under the Mirada brand name.

Recently, Mirada’s DLCExpert™, an automated contouring software for CT scans, received FDA approval. This marks the company’s first AI-based clinical application and represents an industry first. The solution automates the contour extraction task following CT scanning, which is a critical component of the treatment planning process. The software has been clinically validated and is in clinical use at many top-tier hospitals and healthcare centers; it is currently marketed in both Europe and the United States. Mirada Medical, a globally leading brand in medical imaging software, has launched DLCExpert™, the first automated CT contouring software based on next-generation Deep Learning Contouring (DLC).

“In 2018, there were approximately 17 million new cancer cases worldwide. By 2040, the global incidence of cancer is projected to increase by 62%. We estimate that half of these patients will receive radiation therapy, and this population stands to benefit from the DLCExpert™ technology,” said Mark Gooding, Chief Technology Officer at Mirada Medical. “We believe that artificial intelligence can be applied to labor-intensive healthcare tasks, enabling clinical staff to devote more time to direct patient interaction, thereby achieving optimal treatment outcomes.”

Hugh Bettesworth, CEO of Mirada Medical, stated, “The application of AI in the healthcare sector is growing rapidly. We are delighted to accelerate the development of our AI-powered cancer treatment products. Apposite provides valuable resources to Mirada. Through the research and development of advanced artificial intelligence technologies, Mirada will bring transformative impact to cancer treatment.”

Sam Gray, Partner at Apposite Capital, stated, “Apposite is delighted to support the team at Mirada. Mirada’s products are used by more than 2,000 hospitals worldwide and the company has established partnerships with leading global medical device manufacturers. Backed by science and technology, Mirada continuously develops and commercializes its own cutting-edge new products. The recently approved AI-based DLCExpert™ is a prime example, addressing real-world clinical needs.”

Apposite, founded in 2006 and headquartered in London, UK, is a private equity investment firm focused on the healthcare sector.

Reference Link:

https://mirada-medical.com/

https://www.appositecapital.com/news/

https://www.privateequitywire.co.uk/2019/04/08/274742/apposite-capital-makes-gbp6m-investment-mirada-medical

(Compiled by Liu Na)