Ibex Medical, a pioneering developer of AI-driven pathology cancer diagnosis system, announces $11 million Series-A round led by aMoon fund.
Clipperton acted as sole financial advisor to Ibex Medical Analytics.
- Israel-based HealthTech VC aMoon leads this $11 million financing round, backed by 83North, Dell Technologies Capital and existing investor Kamet Ventures (AXA’s investment arm).
- Ibex will use the funds to go through the development of its solution for other pathologies and start international expansion.
- First deal closed by Clipperton in Israel.
Tel Aviv, March 2019 – Leading European corporate finance boutique Clipperton is proud to announce it acted as sole financial advisor to Ibex Medical Analytics – the Israeli developer of AI-based cancer diagnosis systems – for its $11 million Series-A round. The investment will support further product development and enable Ibex to accelerate its international deployment.
Combining a unique dataset of millions of pathology slides and electronic medical records with state-of-the-art Artificial Intelligence technologies, Ibex developed breakthrough algorithms to confirm cancer diagnoses of tissue biopsies. The company’s initial product, a Second Read system for prostate cancer diagnosis, has already been clinically deployed at Maccabi Healthcare Services and will soon be commercially deployed internationally in pathology labs, establishing the company as a first-mover in the emerging computational pathology space.
Thanks to this new funding, Ibex will be able to expand its engineering team and extend its product offering to additional types of cancers while pushing forward its commercial development, getting the edge on its competitors.
“Many cancer cases are diagnosed too late or are missed due to human error. We have already witnessed the life-saving impact that our platform has delivered to Maccabi patients”, said Joseph Mossel, Ibex’s co-founder and CEO. “With this new funding, we plan to expand our engineering team in order to extend our product offering to additional types of cancer. This will empower pathology institutes to significantly improve their efficiency and accuracy, thereby saving the lives of more patients.”
Roy Wisner, Managing Director at aMoon is delighted to support a first-rate groundbreaking company: “Together with our fellow investors, we believe the exceptional team, validated technology, unique access to large datasets and the strong international collaborations the company has built, position IBEX as an early leader in the field.”
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Clipperton is a European independent corporate finance advisory firm exclusively dedicated to the Technology space, advising high growth companies on M&A transactions, debt financings and equity offerings. With offices in London, Berlin, and Paris and an international reach, Clipperton is a European leader in Technology financial advisory. Over the past 15 years, the team has successfully completed more than 300 high profile transactions globally. For more details please visit clipperton.net