Lucida Medical has raised £8.7 million (€10 million) to accelerate deployment of its AI-powered prostate cancer diagnostic software and expand the platform to additional cancer types.
The software analyzes MRI scans to support faster and more consistent prostate cancer detection and is approved for use in the U.K. and EU, with deployments underway across 15 National Health Service hospitals, according to the company. The funding round was led by IW Capital, with participation from XTX Ventures and Macmillan Cancer Support.
Lucida Medical said it plans to use the investment to pursue U.S. Food and Drug Administration (FDA) clearance and expand its AI platform beyond prostate cancer.
