Perspectum Completes $19 Million Second Close of Series C Funding Led by Oppenheimer & Co. Inc. (“Oppenheimer”)

March 15, 2023 |

3 min read

Perspectum has completed the second close of its $55 million Series C funding round.

OXFORD, England & DALLAS--(BUSINESS WIRE)--Perspectum Diagnostics, a precision health company which develops medical imaging tools to improve the diagnoses of metabolic diseases and cancer, has completed the second close of its $55 million Series C funding round. The additional $19 million investment was led by Oppenheimer. The second close of the Series C funding brings the total amount raised since inception to circa $140 million.

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Figure 1. Perspectum’s proprietary AI-powered objective data visualizations of three different livers representing varying degrees of health, starting with a healthy liver (green) on left and ending with a quantitative visualization demonstrating liver inflammation (red orange) on right. (Photo: Business Wire)

Since the beginning of 2021, 77 million US adults covered by Medicare and commercial plans have had access to LiverMultiScan, the company’s flagship diagnostic tool to assess and monitor chronic liver disease. The coverage and established reimbursement codes have fueled LiverMultiScan’s adoption by several major US hospitals. Perspectum is working to expand its footprint across the US and to scale to meet the increasing demands for assessing organ health.

“The second Series C second close further supports deployment, development and validation of our platform-based product portfolio targeted for clinical research and clinical use,” said Rajarshi Banerjee, MD, PhD, CEO of Perspectum. “More broadly, it enables us to maintain our demonstrated leadership in the fields of medical AI techs to influence patient care both now and in the future,” adds Dr Banerjee.

Perspectum’s software products enhance the capabilities of a standard magnetic resonance imaging (MRI) machine, enabling it to capture multiparametric mapping data which allows its AI-driven software to measure organ inflammation with greater precision, aiding diagnosis and the monitoring of patients with chronic diseases.

“When I think of all the patients I cared for over 45 plus years, how I wish I had Perspectum’s AI-enabled technologies in my day,” said Dr Elizabeth Fagan, Perspectum Board Member, and adjunct Professor of Internal Medicine and Pediatrics at Rush-Presbyterian-St. Luke’s Medical Center, Chicago. As a hepatologist and pioneering liver transplant physician she also said, “I can see, for example, how Perspectum’s LiverMultiScan combined with their FDA-approved MRCP+ technology can be applied to many chronic liver and biliary diseases.”

In addition to scaling its US operations, Perspectum will use the new funding to accelerate its product pipeline for multiorgan conditions and oncology.

“I am thrilled with this second close as Perspectum moves toward mainstream adoption of its current commercially available products such as its flagship LiverMultiScan product,” said Perspectum Board Chair Dr Michael Rosenblatt. Dr Rosenblatt adds, “The funding supports a more accelerated approach as Perspectum moves to achieve its ultimate goal of standardizing the use of integrated AI clinical decision support tools for the management of patient health at scale globally.”

About Perspectum

Perspectum, a global medical technology company with offices in the US, the UK, Portugal, and Singapore, delivers leading digital technologies that help clinicians provide better care for patients with chronic metabolic diseases, multi-organ pathology, and cancer. With a strong focus on precision medicine using advanced imaging and genetics, our vision is to empower patients and clinicians through quantitative assessments of health enabling early detection, diagnosis, and targeted treatment. With a diverse team of physicians, biomedical scientists, engineers, and technologists, Perspectum offers a way to manage complex health problems at scale. For additional information, please visit: Perspectum.com and LinkedIn.