Qureight secures $20 million for an AI technology focused on chest conditions to accelerate drug trials.
Most AI imaging startups develop a distinct model for each disease. However, a company in Cambridge has secured $20 million to create a singular model for the entire chest, allowing it to derive other models from this foundation.
Qureight specializes in AI imaging tools for clinical trials involving the lungs and heart. The company announced the closure of a $20 million Series B funding round led by Molten Ventures, bringing its total funding to over €27 million, as reported by Tech.eu.
A foundational model for the chest
The newly acquired funds will help establish an AI imaging lab centered around a versatile 3D model of the chest. Qureight claims that it can develop disease-specific models in just one to two months using this foundational model, compared to the one-year timeframe required for building a model from scratch. Upcoming models will target asthma, lung cancer, pulmonary hypertension, and bronchiectasis, in addition to its current focus on lung fibrosis.
The appeal to pharmaceutical companies revolves around efficiency. One of Qureight’s tools reduces the time for imaging decisions in a trial from approximately two weeks to just 48 hours. Another tool creates 3D maps of airways and blood vessels to monitor how a drug affects a disease. Additionally, it offers “synthetic control arms,” which are AI-generated substitutes for real control groups, potentially reducing trial costs.
AstraZeneca and Bristol Myers Squibb are already utilizing this technology, as reported by Tech Funding News. The market for lung and heart trials is projected to reach $27.5 billion by 2030.
Two doctors and a CT scan
The inception of Qureight is distinctive for an AI imaging company, as it was founded in 2018 by two doctors rather than engineers. Chief Executive Muhunthan Thillai, a chest physician who still sees patients, started the company after encountering difficulties reading a CT scan confidently.
To bridge the expertise gap, the founders recruited a senior technical team that includes a former global platform head at HP and a machine-learning professor from Imperial College London. Qureight's closest European competitor, Brainomix from Oxford, focuses on selling diagnostic software for hospitals, whereas Qureight operates directly within clinical trials.
Keeping it in London
This funding round highlights the current trend in financial investment within AI in medicine. Qureight initially approached Molten two years ago, but was turned down. This time, however, three investors presented term sheets within six weeks. The company opted to reject US offers and secured funding from a London-based investor.
This influx of capital is evident in the growing interest in AI for drug discovery and biology, alongside a series of health-tech funding rounds. Qureight aims to expand its workforce to 100 employees by December. Whether its chest model becomes a standard in trials or remains a specialized tool will depend on the partnerships it establishes in the future.
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Qureight secures $20 million for an AI technology focused on chest conditions to accelerate drug trials.
Cambridge's Qureight secured $20 million in Series B funding to develop an AI "foundation model" for the chest, aimed at accelerating drug trials for lung and heart conditions.