A small imaging-informatics company just got a large infusion of cash to refine its forthcoming product line and speed its progress along the regulatory road.
HealthMyne, based in Madison, Wis., announced March 10 that it has raised $4.5 million in Series A—or first significant round of—funding from a group of investors led by two firms also located in Madison, Venture Investors and 4490 Ventures, and backed by a number of angel investors.
In a news release, HealthMyne said its first product, set to launch later this year, will aid in the detection and diagnosis of lung nodules.
According to the release, HealthMyne’s novel search, analytics and imaging (SAI) software provides physicians with enhanced tumor-image manipulation. The technology incorporates EHR and image-repository search capabilities for diagnosing and treating similar cases.
HealthMyne launched in 2013 when a group of healthcare entrepreneurs banded together after their previous, separate efforts yielded successful start-ups such as TomoTherapy and UltraVisual/Emageon, according to the company’s website.
“Obviously, there is significant investment occurring in healthcare informatics, especially within the data analytics segment,” said Greg Robinson, managing director of 4490 Ventures. “However, what makes HealthMyne so exciting is their unique position and proven expertise relative to clinical imaging analysis.”
The investors’ interest was surely piqued by CMS’s issuance, in early February, of a final decision to cover screening for lung cancer with low-dose computed tomography (LDCT).