Quibim Secures $50M Funding for AI in Medical Imaging

Quibim Secures $50 Million in Series A Funding for Medical Imaging AI

Quibim, a Spanish company pioneering the development of fundamental AI models for medical imaging, has successfully raised $50 million in a Series A funding round.

This investment arrives during a period of significant AI integration within the healthcare sector, impacting areas from pharmaceutical research to the execution of clinical trials.

Enhancing Diagnostics with Artificial Intelligence

Quibim is focused on improving the precision of diagnoses and the identification of diseases through the analysis of visual data obtained from imaging techniques like X-rays, CT scans, and MRIs.

The company’s primary offering, QP-Prostate, is specifically engineered to enhance the detection of prostate cancer. Additional products are currently under development targeting the brain, liver, breast, and lungs.

Expanding Data Analysis Capabilities

Beyond image analysis, Quibim provides QP-Insights, a tool for processing complex multi-omics data.

This capability is valuable in contexts such as clinical trials and associated research endeavors, allowing for a more comprehensive understanding of biological information.

Vision for Digital Twins of the Human Body

Quibim’s long-term objective involves the creation of comprehensive digital twins representing the entire human body.

These dynamic models are intended to provide the medical community with enhanced insights into human physiology and pathology.

The development of these models is progressing incrementally, starting at the level of individual organs and lesions, as exemplified by the QP-Prostate product.

U.S. Growth Strategy for Quibim

Quibim, a company headquartered in Valencia, has secured approximately $70 million in funding since its founding. The latest investment will be strategically allocated to accelerate the company’s expansion initiatives within the United States.

Notably, Quibim obtained FDA 510(k) clearance in 2023 for its QP-Prostate product, enabling its marketing within the U.S. market. Furthermore, the company has recently appointed its inaugural chief medical officer specifically for its U.S. operations.

Global Presence and Partnerships

Currently, Quibim reports having 170 installations worldwide. These installations are supported by collaborations with prominent institutions like Stanford University and Mass General Brigham, a leading integrated healthcare system affiliated with Harvard University.

In addition to these partnerships, Philips has previously declared its intention to incorporate Quibim’s AI models directly into its imaging scanners.

Investment Details

The Series A funding round was spearheaded by Asabys, a Spanish venture capital firm, and Buenavista, a private equity firm. A diverse group of investors also participated, including:

• Amadeus Capital Partners
• Apex Ventures
• Partech
• Tony Fadell, co-creator of the iPod and iPhone

“Our aim at Quibim is to transform medical imaging into a driving force for precision health,” stated Ángel Alberich-Bayarri, CEO and co-founder of Quibim. “Expanding our reach into the U.S. represents a pivotal step as we collaborate with both pharmaceutical companies and healthcare providers.”

This collaboration aims to harness the potential of imaging technology to significantly enhance diagnostic capabilities and ultimately improve patient outcomes.