Oxford-based Perspectum, a precision health company which develops medical imaging tools to improve the diagnosis of metabolic diseases and cancer, announced on Thursday, March 15, that it has closed its Series C round of funding at $55M (nearly €51.79M).
In January, Perspectum raised $36M (nearly €33.89M) in the first close of the Series C round and on Wednesday, March 15, it raised another $19M (nearly €17.88M).
The second close of the Series C funding brings the total amount raised since inception to $140M (nearly €131.81M).
About the investor
Perspectum’s Series C round was led by the US-based investment bank and wealth manager Oppenheimer.
Oppenheimer’s Investment Banking, Asset Management, and Private Client Division Business Units teamed up to put together the Series C round as part of its Private Market Opportunities (PMO) initiative.
The US-based firm has invested $27M through its Private Market Opportunities (PMO) initiative. The initiative allows qualified private customers and high-calibre institutional investors to invest in private emerging growth companies.
This is the sixth deal for the PMO initiative since 2017. During that period, the company has led roughly $250M in capital-raising rounds.
Robert Lowenthal, President of Oppenheimer and Head of Investment Banking, says, “We congratulate our partner Perspectum…Medical imaging and diagnostic technology is a highly innovative field, with significant potential for long-term growth that appeals to many of our accredited private investors.”
“This transaction reflects how the full capabilities of Oppenheimer can contribute to better patient care and the development of new therapeutic discoveries.”
Oppenheimer, a subsidiary of Oppenheimer Holdings Inc., and its affiliates provide asset management, securities brokerage, and investment banking services to high-net-worth people, families, company leaders, local governments, businesses, and institutions.
“Envisioning a future of precision health care”
Perspectum’s aim is to empower patients and doctors through quantitative health evaluations that enable early detection, diagnosis, and tailored therapy, with a focus on precision medicine using advanced imaging and genetics.
Its products improve the capabilities of a standard Magnetic Resonance Imaging (MRI) machine by capturing multiparametric mapping data, allowing its AI software to measure organ inflammation with precision, assisting in the diagnosis and monitoring of patients with chronic diseases.
Perspectum’s flagship diagnostic tool LiverMultiScan, which assesses and monitors chronic liver disease, has been used by several large institutions in the US. 77 million US adults covered by Medicare and commercial plans have accessed the product.
The company, with a diverse team of doctors, biomedical scientists, engineers, and technologists offers means to handle complex health issues on a large scale.
Perspectum and Nuance Communications, a subsidiary of Microsoft, recently unveiled a partnership to offer Perspectum’s integrated digital platform suite for metabolic disease treatment and administration at scale.
Perspectum says it will use the funds to accelerate its product development for multiorgan conditions and cancer, in addition to expanding its US operations.
Rajarshi Banerjee, MD, PhD, CEO of Perspectum, says, “We are excited to have Oppenheimer join our mission to create safer and more accurate imaging technologies that will help clinicians shorten patients’ diagnostic and treatment journeys.”
He added, “This new funding will help us to continue innovating new products that will make healthcare safer by providing non-invasive alternatives to biopsy, totally changing how and when we can see and treat many diseases.”