This Spanish medtech startup helps detect COVID-19 through AI, snaps €8M

Based out of Valencia, QUIBIM is a biotech company dedicated to medical image processing and extraction of imaging biomarkers for the medical imaging workflows. 

Raised €8M funding

Recently, the company has secured €8M funding in a seed funding round co-led by Amadeus Capital Partners and Adara Ventures, with participation by Apex Ventures, Partech, Crista Galli Ventures, and existing shareholders, including Tech Transfer UPV, managed by Clave Capital and Juan Roig. 

The company will use this investment to expand the range of algorithms and high-value components available through its AI-based radiology platform.

Angel Alberich Bayarri, founder and CEO of QUIBIM, said, “QUIBIM is now at a scale-up point ready to grow internationally while maintaining great science at the core of our mission. This latest round of funding will be used to boost the AI platform, our available algorithms, and high-value components, to provide a seamless, all-in-one solution supporting healthcare providers. Our new investors will open opportunities for us in new markets and help us to strengthen our brand internationally. We will be able to promote our new prostate, musculoskeletal, and oncology solutions and increase sales globally, by expanding our workforce over the coming year.”

Extracting information from medical imaging data sets

Founded by Dr. Ángel Alberich-Bayarri and Prof. Luis Marti-Bonmati, QUIBIM specialises in radiomics, the extraction of standardised, quantitative information from medical imaging data sets using artificial intelligence (AI). This postprocessing and extraction of imaging biomarkers enable hospitals and pharmaceutical companies to detect diseases early and systematically.

QUIBIM Precision, its proprietary platform, extracts and quantifies disease-specific biomarkers from medical images with ultra-high accuracy. Its products are used in over 70 hospitals and 11 clinical trials across the world, with 600,000 analyses and 6.5 million images processed to date.

The company is launching its qp-Suites product family, designed to support radiologists by centralising the essential tools for clinical diagnosis in one platform, increasing operational efficiency.

Launched over 20 algorithms

To date, the company has already launched more than 20 algorithms for a range of conditions including cancer, Alzheimer’s, osteoarthritis, and liver disease. Notably, the company launched chest X-ray and CT scan products for COVID-19 recently. 

Pierre Socha, the Partner, Amadeus Capital Partners, added: “We are excited by the potential of radiomics to improve disease detection and enable precision treatments guided by imaging biomarkers. QUIBIM’s all-in-one platform is the answer that radiologists have been waiting for and we look forward to helping them grow internationally while continuing the fight against COVID-19 and other life-threatening conditions.”

“QUIBIM’s rapid adoption is an indicator of how innovative doctors and researchers are eager to have access to and exploit AI technology and methods that can automatically recognise complex patterns in imaging data, to get quantitative assessments and improve the service they provide”, said Rocio Pillado, partner at Adara Ventures.

Main image credits: QUIBIM