The Merck Global Health Innovation Fund announced it has made a strategic investment in Qure.ai as part of its Series D round. This funding will be used to develop foundation models for artificial intelligence (AI) in imaging and expand the geographical reach of Qure.ai’s AI-powered imaging solutions into the US market.
Qure.ai has globally delivered AI-augmented detection for Tuberculosis (TB), Lung Cancer, and Stroke at over 2,700 imaging sites across 90+ countries. And it has clearance from the United States Food and Drug Administration’s (FDA) Center for Devices and Radiological Health (CDRH) for its AI-powered Chest X-ray lung nodule detection solution (qXR-LN); breakthrough device designation for TB solution (qSpot-TB); an AI-enabled head CT tool to expedite the detection, triage and quantification of traumatic brain injuries and stroke (qER-Suite); plus multiple other plain film X-ray emergency room findings.
With patient populations and the burden of disease on health systems continuing to exert pressure, healthcare AI is presenting a huge opportunity to power early identification and management.
Merck previously invested in Qure.ai as part of its impact investing portfolio led by the Merck Office of Social Business Innovation
KEY QUOTES:
“Healthcare AI provides the opportunity to review people faster as we have shown in patients with TB in low-and middle-income countries, as well as lung cancer and emergency triage in the UK’s National Health Service. This strategic investment in Qure.ai from the Merck Global Health Innovation Fund will enable us to expedite our work in foundation models and expand the reach of our AI both geographically and demographically.”
- Prashant Warier, Co-founder and CEO of Qure.ai
“Initial real-world studies and recent FDA clearances have provided compelling evidence for the potential of Qure.ai’s medical imaging AI innovations. AI has the potential to power the early diagnosis of lung cancer, TB or Stroke giving the best chance of survival outcomes and improving quality of life for patients.”
- David M. Rubin, Managing Director, Merck Global Health Innovation Fund
