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Ibex Medical Analytics scores $38M to power cancer diagnostics with AI
The Israeli medtech startup fuels its North American expansion. Ibex CEO: We view AI as the next great wave of transformation in healthcare . Dor Schwartz / 9 Mar 2021 • 3 min read
The ongoing global pandemic has pushed healthcare services to the limit. From crowded hospitals to long diagnosis wait times, COVID has exposed many areas where healthcare may need a virtual hand, even in a post-COVID reality. One area where pathologists have previously struggled is in cancer diagnostics. It could be the lack of skilled personnel, backed up labs, or plain and simple, a rise in cases, but these workload issues can cause critical mishaps during the critical diagnosis process.
AI cancer diagnostics co Ibex Medical Analytics raises $38m globes.co.il - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from globes.co.il Daily Mail and Mail on Sunday newspapers.
Ibex Medical Analytics raises $38M for its AI-powered cancer diagnostic platform
Israel-based Ibex Medical Analytics, which has an AI-driven imaging technology to detect cancer cells in biopsies more efficiently, has raised a $38 million Series B financing round led by Octopus Ventures and 83North. Also participating in the round was aMoon, Planven Entrepreneur Ventures and Dell Technologies Capital, the corporate venture arm of Dell Technologies. The company has now raised a total of $52 million since its launch in 2016. Ibex plans to use the investment to further sell into diagnostic labs in North America and Europe.
Originally incubated out of the Kamet Ventures incubator, Ibex’s “Galen” platform mimics the work of a pathologist, allowing them to diagnose cancer more accurately and faster and derive new insights from a biopsy specimen.
Ibex Medical Analytics, a pioneer in artificial intelligence (AI)-based cancer diagnostics, and
KSM, the Research and Innovation Center of Maccabi Healthcare Services – Israel s leading HMO - announced today a first-of-a-kind pilot of Ibex s Galen Breast solution for AI-powered primary diagnosis of breast cancer at Maccabi s Pathology Institute.
Breast cancer is the most common malignant disease in women worldwide, with over 2 million new cases each year. Early and accurate detection is critical for effective treatment and saving women s lives.
Maccabi KSM Logo
The pilot at Maccabi s Pathology Institute includes 2,000 breast biopsies on which pathologists will use Galen Breast as a First Read application. It is the first-ever deployment of an AI application for primary diagnosis of breast cancer.
Chaim Linhart
Chaim Linhart is the CTO and Co-Founder of Ibex Medical Analytics. He has more than 25 years of experience in algorithm development, AI and machine learning from academia as well as serving in an elite unit in the Israeli military and at several tech companies. Chaim has a PhD in Computer Science from Tel Aviv University and has won multiple Kaggle machine learning competitions.