Israel-based cancer diagnostics technology developer Ibex Medical Analytics has closed an $11m series A round featuring Kamet Ventures and Dell Technologies Capital, subsidiaries of insurance firm Axa and computing technology provider Dell.
The round was led by life sciences venture capital fund aMoon Fund and included VC firm 83North. The startup has not disclosed details of any earlier funding.
Ibex is working on a cancer detection system that utilises artificial intelligence-focused computational pathology. Its lead product, a core needle biopsy test focused on the prostate, has been clinically tested by strategic partner Maccabi Healthcare Service in its hospitals.
Joseph Mossel, co-founder and chief executive of Ibex, said: “Many cancer cases are diagnosed too late or are missed due to human error. We have already witnessed the life-saving impact that our platform has delivered to Maccabi patients.
“With this new funding, we plan to expand our engineering team in order to extend our product offering to additional types of cancer. This will empower pathology institutes to significantly improve their efficiency and accuracy, thereby saving the lives of more patients.”
