Oncoustics Closes New Funding to Advance its AI Innovations in Ultrasound and Address Huge Unmet Clinical Needs in Liver Disease

Oncoustics’ SaMD Works on Any Ultrasound System Making AI-Driven Diagnostics, Surveillance and Treatment Monitoring Available and Accessible at Point of Care Oncoustics (http://www.oncoustics.com), the leader in ultrasound-based tissue characterization solutions announces the initial close of a $5 million+ seed round of funding to advance its SaMD (software as a medical device) technology for the low-cost assessment of structural diseases at point of care. Oncoustics’ first products will focus on liver disease, one of the fastest-growing causes of morbidity and mortality in the world. The round is co-led by Creative Ventures and Saltagen Ventures. Other investors in the round include NorthSpring Capital Partners, Fraser Kearney Capital Corp., Pallasite Ventures, and Dr. Chen Fong, a renowned radiologist, entrepreneur/investor and inductee into the Order of Canada for his contributions to medical technology innovation and philanthropy. With this close, Oncoustics is pleased to add Dr. Fong on behalf of Saltagen, and James Wang of Creative Ventures to its board of directors. The Novel Oncoustics Approach Oncoustics’ patented approach utilizes both the ultrasound images as well as the acoustic data derived from the raw sound signals to automatically differentiate tissue types. Every different type of tissue in the body bounces back a unique acoustic signature and Oncoustics mines these signals to differentiate healthy versus diseased tissues. Oncoustics has bee...
Source: EMR and HIPAA - Category: Information Technology Authors: Tags: AI/Machine Learning Ambulatory Health IT Company Healthcare IT Hospital - Health System Beth Rogozinski Creative Ventures Dr. Chen Fong Fraser Kearney Capital Corp. Health IT Funding Health IT Fundings Health IT Investment James Wa Source Type: blogs