Quibim, a startup from Spain focused on creating foundational AI models for medical imaging in fields such as oncology, immunology, neurology, and metabolic disorders, has secured $50 million in a Series A funding round.
This financial boost arrives as artificial intelligence continues to significantly impact healthcare, enhancing processes from drug development to clinical trials.
Quibim aims to improve diagnostic precision and disease identification through visual data gathered from X-rays, CT scans, and MRIs. The company’s leading product, QP-Prostate, is specifically designed to enhance the detection of prostate cancer, with additional products under development for the brain, liver, breast, and lung.
Additionally, Quibim provides QP-Insights for processing multi-omics data, which involves various types of biological data, particularly useful in clinical trials and related research.
The company has long-term aspirations to develop digital twins of the human body, creating “dynamic models” that can aid the medical community in gaining a better understanding of human biology. The initial focus is at the “organ and lesion level,” as evidenced by the QP-Prostate.
Expansion Plans in the U.S.
Based in Valencia, Quibim has raised approximately $70 million since it was founded and plans to intensify its expansion efforts in the U.S. market with this new funding. Quibim received FDA 510(k) clearance in 2023 to sell its QP-Prostate product and has also appointed its inaugural</a chief medical officer in the U.S.
Currently, Quibim reports having 170 installations worldwide, collaborating with esteemed partners such as Stanford University and the Harvard-affiliated integrated healthcare system Mass General Brigham. Furthermore, Philips previously declared intentions to incorporate Quibim’s AI models into its imaging systems.
The Series A funding for Quibim was led by Asabys Partners, a Spanish venture capital entity, and private equity firm Buenavista, with contributions from various institutional and individual investors, including Amadeus Capital Partners, Apex Ventures, Partech, and Tony Fadell, co-creator of the iPod and iPhone.
The CEO and co-founder of Quibim, Ángel Alberich-Bayarri, stated that the company’s mission is to transform imaging into a pivotal element of precision health. He highlighted that expanding into the U.S. market is a significant achievement as Quibim collaborates with pharmaceutical leaders and healthcare providers to harness the potential of imaging in revolutionising diagnostics and enhancing patient care.
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