Medical software company Perspectum has secure $36m in financing from new and existing investors.

The Oxford-based firm provides non-invasive technology for identifying and monitoring multiple diseases. Its first diagnostic product, LiverMultiScan, uses software to extract quantitative data from current MRI scans to aid with the detection of chronic liver disease.

The new funding will drive the commercialisation of LiverMultiScan for clinical use, expand the CRO business as well as develop additional products for biliary disease, diabetes and cancer for both clinical and CRO applications.

The product enables improved diagnostic pathways for liver disorders, such as Non-Alcoholic Fatty Liver Disease (NAFLD) and Non-Alcoholic Steatohepatitis (NASH), conditions that impact more than 100 million people in the US alone, with an annual cost to the US healthcare system of $32bn. 

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The investment was co-led by the Blue Venture Fund and HealthQuest Capital, with participation from Oxford Science Innovation, Puhua Capital and the University of Oxford and other existing investors.

“Blue Venture Fund’s invaluable insight in navigating reimbursement and coverage decisions, and HealthQuest’s experience ramping growth stage healthcare companies and specific experience in clinical diagnostics and clinical trial services will be enormously beneficial to our business,” said Dr Rajarshi Banerjee, Founder and CEO of Perspectum.

Garheng Kong, MD, PhD, Managing Partner at HealthQuest will join the Perspectum Board, and commented “Perspectum is addressing a large medical need with very few current solutions and has the opportunity to become the standard of care for liver disease diagnosis as a first application.

“We believe there is an opportunity to build a best-in-class medical imaging company for multiple clinical indications and are excited to work alongside BVF to help Perspectum realize this vision.”