AIxMed, a Santa Clara, CA-based early-stage smart cytology company at the intersection of artificial intelligence (AI) and medicine, announced that it raised $2.75 million in a SAFE round of financing from existing investors to further develop its digital cytology platform.
Upon market launch, the AIxMed platform will target bladder cancer monitoring and assisted diagnosis through AIxURO.
"Cytology is experiencing a digital transformation like other healthcare areas have experienced," noted Samuel Chen, co-founder, and CEO of AIxMed. "With our advanced AIxURO, we aim to impact bladder cancer care for the benefit of practitioners, labs, payers, and most especially patients."
The proceeds will be used to add a Chief Medical Officer to its leadership team and to support validation studies prior to FDA submission.
"Our validation studies in the U.S. are currently ahead of schedule, and we outperformed our development expectations. We look forward to submitting results to the FDA in the near future," said Mr. Chen. He also adds that the next fundraising series to support commercialization efforts is slated for late 2023.
Alternatively, AIxURO performs analysis using a simple, comfortable, and non-invasive urine collection sample. In addition to saving time at the point of care, cytopathologists and technicians can automatically visualize whole slides faster than they could manually scan slides.
Company: AIxMed, Inc.
Round: Safe Round
Funding Month: April 2023
Lead Investors: Undisclosed
Company Website: https://www.aixmed.com/
Software Category: AI-driven Digital Cytology
About the Company: Founded in 2018, AIxMed is a developer of a digital cytology platform intended to improve patient care and outcomes. The company's artificial intelligence (AI) powered computational platform provides bladder cancer monitoring and assisted diagnosis, enabling healthcare professionals to remove diagnostic and monitoring complexity and reducing unnecessary cancer-related costs. AIxMed helps Pathologists digitize cytology samples in minutes and extract clinical insights in seconds to improve patient diagnosis and care. The company’s first application, AIxURO, is an AI-assisted urine cytology imaging and reporting software package for bladder cancer diagnosis and surveillance based on The Paris System (TPS).