The funds will be used to create software that finds cancer more accurately by analyzing MRI scans; the company will initially focus on prostate cancer. Co-founders Evis Sala and Dr. Antony Rix developed the software using radiogenomics, machine learning, and image processing to analyze the scans.
Lucida's software automates labor-intensive tasks such as marking out lesions and will help patients avoid unnecessary invasive biopsies by 24%. Specifically, the money will expand Lucida's team, aid with regulatory approvals, and help the firm complete a 2,000-patient clinical study.
Lucida seeks to screen up to 54 million men for prostate cancer each year using its technology.
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