Qure.ai announces strategic investment by Merck Global Health Innovation Fund to boost innovation of healthcare AI
June 25 2024 - 9:00AM
Merck Global Health Innovation Fund has made a strategic investment
into Qure.ai as part of its Series D round. This funding will go
towards investing into foundation models for artificial
intelligence (AI) in imaging and expanding geographical reach of
Qure.ai’s AI-powered imaging solutions into the US market.
Globally Qure.ai has delivered AI-augmented detection for
Tuberculosis (TB), Lung Cancer and Stroke at over 2700 imaging
sites, across more than 90 countries. 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 ever growing patient populations and burden of disease on
health systems continuing to exert pressure, healthcare AI presents
a huge opportunity to power early identification and
management.
“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,” said Prashant Warier, Co-founder and CEO
of Qure.ai. “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.”
“Initial real-world studies and recent FDA clearances have
provided compelling evidence for the potential of Qure.ai’s medical
imaging AI innovations,” said David M. Rubin, Managing Director,
Merck Global Health Innovation Fund LLC. “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.”
Merck had previously invested in Qure.ai, as part of its impact
investing portfolio led by the Merck Office of Social Business
Innovation.
For Media QueriesGeorgina Wright -
Georgina.wright@qure.ai