Ibex Secures $55 Million in Series C Funding to Advance AI-Enhanced Diagnostic Solutions

Ibex Medical Analytics The funding round was led by 83North and included participation from Sienna Venture Capital, alongside existing investors like Octopus Ventures, aMoon, Planven Entrepreneur Ventures, and Dell Technologies Capital.

Since its foundation in 2016, Ibex has successfully raised over $100 million, including a $38 million Series B funding boost in 2021.

Joseph Mossel, Co-Founder and CEO of Ibex, indicated that the funds will help the company extend its reach in the U.S. and broaden its product offerings, aiming to create even more AI solutions for pathologists.

Via its Galen platform, Ibex provides AI-driven workflows and decision support options targeted at pathologists.

These offerings encompass AI tools for detecting prostate, breast, and gastric cancers. Features include a prioritized case worklist, a slide viewer, preordering for IHC, cancer heatmaps, grading tools, measurements, non-cancer findings, and AI-enhanced reporting.

According to Ibex, their AI technology is founded on Deep Learning algorithms developed by a specialized team of pathologists.

The company asserts that these sophisticated algorithms mirror the expertise of a pathologist, reliably spotting cancer within tissue biopsies. data scientists and software engineers. Per a Forbes report Moreover, Ibex’s diagnostic AI solutions are fine-tuned using data from its partner, Maccabi Healthcare Services, which maintains one of the most extensive digital clinical datasets worldwide, featuring millions of pathology slides along with fully digitized pathology reports.

Ibex claims its Galen platform is operational in labs and pathology departments globally. In December, they highlighted a successful deployment of Galen Prostate at the University of Pittsburgh Medical Center (UPMC).

In January, Ibex teamed up with AstraZeneca and Daiichi Sankyo to create an AI-powered biomarker-scoring tool for breast cancer. Recently, the Betsi Cadwaladr University Health Board in Wales also utilized Galen for breast cancer diagnostics.

“Our ongoing investment in Ibex demonstrates the significant advancements the company has made in recent times, bringing its exceptional technology to laboratories, hospitals, and digital pathology networks around the world, effectively advancing the industry into an AI-driven age,” Gil Goren, Partner at 83North and Board Director of Ibex, commented. “We are excited to witness Ibex leading the way in creating new AI applications for cancer diagnosis, aiding healthcare providers in improving patient care and outcomes.” started piloting Please be advised that the information provided on this page is not intended to serve as legal, tax, investment, financial advice, or any other form of guidance. Always invest only what you can afford to lose and consider seeking independent financial advice if unsure. For more information, we recommend reviewing the terms and conditions and the support resources available from the issuer or advertiser. MetaversePost is dedicated to delivering accurate and impartial reporting, although market conditions are variable and may change without prior notice.

Cindy, a journalist at Metaverse Post, covers subjects related to web3, NFTs, the metaverse, and AI, with an emphasis on interviews with leaders in the Web3 space. She has conducted interviews with over 30 C-level executives, offering their valuable perspectives to the audience. Originally from Singapore, Cindy currently resides in Tbilisi, Georgia, and holds a Bachelor’s degree in Communications & Media Studies from the University of South Australia, boasting a decade of experience in journalism and content creation.