VIDA COMPLETES SECOND CLOSE OF ROUND C FINANCING
$2M Second Close from Strategic Partners Completes $13M C Round to Advance AI-Powered Respiratory Solutions
Coralville, IA (April 15, 2020) — VIDA Diagnostics, Inc. (“VIDA”), the leader in AI-powered lung imaging analysis, received $2M from OSF Ventures, the corporate investment arm of OSF HealthCare, as a second close of its C round funding.
This investment augments an $11M investment round last month led by First Analysis Corporation and will further fuel development and commercialization of VIDA’s innovative solutions to impact patient care for both traditional respiratory diseases as well as emergent COVID-19 conditions.
“OSF is an ideal strategic partner for VIDA. Through both capital and access to clinic leaders, OSF is a catalyst in expanding the footprint of our FDA-approved, AI-powered imaging solutions in this growing market,” said Susan A. Wood, Ph.D. and CEO for VIDA. “Providing access to analysis like LungPrint has never been more important, given the global COVID-19 pandemic on top of an already growing trend of chronic respiratory and lung diseases.”
“We invest in leading-edge solutions that make an immediate impact for OSF Healthcare’s care teams and patients,” said Garrett Vygantas, MD, Managing Director at OSF Ventures. "VIDA's LungPrint solution helps radiologists and pulmonologists gain valuable insight into each patient's unique condition, which determines the appropriate treatment plan. We see real value for this new technology to help treat patients with COPD, lung cancer and other pulmonary diseases -and we anticipate LungPrint will help us in the future manage new populations experiencing COVID-19 and determine appropriate follow up and long-term care."
LungPrint® is an AI-powered suite of products and services used to uniquely profile and manage the patient with, or at-risk of respiratory and lung diseases. LungPrint provides clinically validated imaging analysis to healthcare providers and clinical trial partners to obtain a more precise, personalized profile of respiratory and lung health. LungPrint is clinically cleared in the US (FDA 510(k)), EU (CE), Australia (TGA) & Canada (CMDCAS).
OSF Ventures specializes in venture optimization, partnering financially and operationally in companies that improve patient outcomes and reduce costs to health care systems. OSF Ventures is a division of OSF HealthCare. More at www.osfventures.org.
About VIDA
VIDA provides the new standard of pulmonary care by using AI-powered CT imaging software and services to aid the early detection, evaluation, and treatment planning of patients with or at risk of respiratory and lung diseases, including emphysema and airway obstructive diseases (COPD), asthma, interstitial lung disease, and lung cancer. VIDA’s software and services are FDA cleared, CE-marked, Health Canada licensed and TGA registered for clinical use in the US, European Economic Area, Canada and Australia. More at vidalung.ai.
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