MICA AI Medical, a Tel Aviv, Israel-based medtech startup that has developed a new technology for the early detection of breast cancer, raised $3 million in funding
Investors in the round include Haim Chizic, Tzachi Arabov (ACRO Real Estate owners), Daniel Koss, BNP VC, the Israeli Innovation Authority, and the Ministry of Economy.
The new funds will be invested in R&D and used to accelerate growth.
With the aid of artificial intelligence and deep learning, MICA says that its new tech offers a significantly more accurate diagnosis using contrast-enhanced mammogram studies.
Mica AI Medical‘s system helps radiologists detect breast malignancies while interpreting contrast-enhanced mammograms. The system reduces the risk of overdiagnosis and unnecessary biopsies. Developed, tested, and validated in partnership with Sheba Hospital, Mica AI Medical’s technology is currently being used at the hospital.
The company has launched the platform in the Sheba Medical Center and Tel Aviv Ichilov Hospital and plans to launch it in the near future in the Beilinson Medical Center as well. Additionally, MICA has signed an agreement with the Clalit HMO, the largest HMO in Israel.
At the same time, MICA Medical is in the last stages of the US FDA approval process and additionally received a grant from the Ministry of Economy in Israel to commercialize the technology in the USA.
Company: MICA Artificial Intelligence Ltd.
Raised: $3.0M
Round: Unknown
Funding Month: February 2023
Lead Investors: Haim Chizic, Tzachi Arabov Daniel Koss, BNP VC, and from the Israeli Innovation Authority and the Ministry of Economy
Additional Investors:
Company Website: https://micamedic.com/
Software Category: Breast Cancer Diagnostics Platform
About the Company: Founded by Lior Wayn, MICA is developing an automatic decision support system that supports radiologists and oncologists. It provides a decision support information hub and medical record platform for breast cancer prevention that is based on CEDM (Contrast Enhanced Digital Mammography) and MICA (Mammography Image Comparison). MICA’s system is designed to assist in the early detection of the disease and it does so through automatic risk analysis, image monitoring, and unique medical databases to support the decision-making process of the radiologist at the time of interpretation of the mammogram. MICA integrates into the radiologist’s workflow intuitively and is compatible with all imaging systems in the world. Additionally, it enables comparison between current mammography examinations with prior examinations which is a significant component of interpreting mammogram studies. Headquartered in Israel, MICA aims to capitalize on aspects of the “Startup Nation” and “Global Leadership in Machine Vision Technology” that reflect the region to create unparalleled software.
Source: https://jewishbusinessnews.com/2023/02/02/mica-ai-medical-raised-3-million-for-ai-breast-cancer-diagnosis-technology/