UK-based medical software provider Perspectum closed a $36m financing round on Tuesday that was co-led by Blue Venture Fund, the corporate venturing vehicle for 36 Blue Cross and Blue Shield health insurers.
Blue Venture Fund, which recently rebranded from BlueCross BlueShield Venture Partners, co-led the round with growth capital firm HealthQuest Capital, while Oxford Science Innovation, Puhua Capital, University of Oxford and unnamed existing investors also took part.
Perspectum develops software intended to help diagnose diseases without the use of invasive devices. Its lead product, LiverMultiScan, has received clearance from the US Food and Drug Administration and analyses data from MRI scans to detect chronic liver disease.
The company also operates a contract research service to assist biopharmaceutical companies on treatments for liver and metabolic diseases. Founded in 2012 in partnership with University of Oxford, it has not disclosed details of any previous equity financing.
The cash will be used to further commercialise LiverMultiScan, strengthen Perspectum’s contract research activities and develop clinical and contract research products for cancer, diabetes and biliary disease.
Blue Venture Fund managing director Thomas Hawes said: “Perspectum offers an innovative imaging technology which will help curb the staggering morbidity and mortality associated with non-alcoholic fatty liver disease.
“Perspectum is uniquely positioned to advance pharmaceutical development, inform clinical care and improve the patient experience. We believe Perspectum has the opportunity to become a market leader in imaging biomarkers and hepatic disease.”
