Qureight raises $20M to expand AI-powered imaging research platform
Qureight—a medical and imaging technology company—has raised $20 million in Series B financing to expand its AI-powered imaging platform for cardiopulmonary clinical trials.
Based in the United Kingdom, Qureight specializes in providing end-to-end imaging and enterprise services for clinical trials that focus on lung and heart diseases. The company's platform combines global imaging contract research organization (CRO) services, AI-derived quantitative imaging biomarkers that measure structural changes associated with disease progression and data science tools designed to improve clinical trial efficiency. According to Qureight, its technology is already being used by biopharmaceutical partners to provide real-time imaging insights and quantitative endpoints for clinical trials involving fibrotic lung diseases.
The company has indicated that the new funding will, in part, go toward the construction of an AI imaging laboratory centered on its 3D deep learning chest imaging foundation model, which is intended to reduce the amount of imaging data and development time needed to create AI models for new diseases. Qureight has plans to expand beyond its existing lung fibrosis portfolio into asthma, pulmonary hypertension, bronchiectasis and drug-induced lung toxicity, while also growing its commercial operations to meet increasing demand for imaging CRO services.
The funding round was led by Molten Ventures, with participation from existing investors Hargreave Hale AIM VCT, XTX Ventures, Guinness Ventures, Meltwind and Ascension. Leaders note that the global lung and heart clinical trials market is expected to grow to $27.5 billion by 2030, with a compound annual growth rate of nearly 7% over the next six years.
“We are strategically positioning ourselves to address this market with our end-to-end, integrated imaging platform for clinical trials,” Muhunthan Thillai, MD, PhD, co-founder and CEO of Qureight, said in a news release. “Expanding our 3D imaging deep learning models with our new AI laboratory will complement our existing dominance in lung fibrosis, allow us to enter new markets, and solidify our leadership position in the lung and heart imaging CRO market.”
“Qureight demonstrates how AI powered by real-world data can accelerate discovery and transform clinical research,” added Inga Deakin, PhD, partner at Molten Ventures. “The team’s rapid deployment of solutions in areas of unmet need underscores their unique capability to drive the next generation of medical innovation. We look forward to working with Muhunthan and the team as they deliver on this vision.”
In addition to her background in journalism, Hannah also has patient-facing experience in clinical settings, having spent more than 12 years working as a registered rad tech. She began covering the medical imaging industry for Innovate Healthcare in 2021.