Israeli med-tech imaging start-up secures $110 million in funding
The company itself has so far signed agreements in 13 countries on five separate continents - each of which have pledged to utilize the innovative Israeli technology.
By ZACHARY KEYSERThe Nanox System, which includes the Nanox.Arc and Nanox.Cloud.(photo credit: LUZ CORPORATE PHOTOGRAPHY)
Israeli medical imaging technology start-up Nanox Imaging Ltd. - based in Neveh Ilan - has secured $110 million in funding to support the roll-out of the Nanox.ARC in countries worldwide, the company announced on Tuesday.The Series B funding round was led by Israeli-based A-Labs Advisory and Finance Ltd., as lead advisors. Throughout Nanox's earlier funding rounds, the company secured around $55 million.Nanox.ARC, in collaboration with its companion cloud-based software Nanox.Cloud, is a novel digital x-ray device intended to provide end-to-end medical imaging services - including image repository, radiologist matching, online and offline diagnostics review and annotation,and connectivity to diagnostic assistive artificial intelligence systems, as well as billing and reporting, according to Nanox founder and CEO Ran Poliakine.According to Poliakine, the Nanox System “will promote early detection of medical conditions that are discoverable by x-ray” screenings - including x-ray based imaging modalities such as CT, mammography, fluoroscopy and angiogram.In a previous statement, the company said that once regulatory approval is obtained, Nanox aims “to penetrate the global market by deploying its Nanox System in collaboration with governments, hospitals and clinic chains.”Expanding on this, the company itself has so far signed agreements in 13 countries on five separate continents - each of which have pledged to utilize the innovative Israeli technology, in order to revolutionize their early detection healthcare systems, according to Nanox.“It is easy to say that we are aiming to change the world,” Poliakine said in a press statement. “The main challenge with such statements is always the execution. We have a bold vision of helping to eradicate cancer and other diseases by means of early detection."We are actively working for the deployment of a global medical imaging service infrastructure that may turn this dream into reality," he added. "We cannot do it without partners and investors who share our vision and support our plan.”Asked in January how the system will be a game changer in the medical imaging world, Poliakine said that Nanox is looking “to drive the change to make the basic, potentially life-saving medical imaging service accessible to all people and not only to the elitist few."“According to the World Health Organization,” he continued. “Two-thirds of Earth’s population don’t have access to medical imaging at all. The WHO also supports medical imaging as one of the best ways for early detection of cancer and other human conditions.”He added that Nanox’s vision is to make the Nanox.ARC “as accessible and available as the stethoscope.”The company has worked on development of Nanox.ARC over the past eight years, and has produced a novel digital X-ray source that achieved a significant reduction in medical imaging systems cost and footprint.Ilanit Chernick contributed to this report.
