AI Medical Service Inc declares US$70 million Series C financing

KUALA LUMPUR, April 26 (Bernama) -- AI Medical Service Inc (AIM), the Tokyo-based med-tech company using deep learning technology to develop endoscopic AI, has announced 8 billion JPY (US$70 million) of financing led by SoftBank Vision Fund 2 (SVF2) and joined by existing investors Globis Capital Partners, World Innovation Lab (WiL), and Incubate Fund. (US$1 = RM4.350)

According to a statement, AIM will use the proceeds of the Series C financing round to accelerate the global adoption of endoscopic AI and finance the development of an in-house cloud-based platform.

Worldwide, approximately 30 per cent of cancer mortality can be attributed to gastrointestinal (GI) cancer, the largest of any cancer grouping in the world as well as in Japan.

Many cases of GI cancer can be treated successfully if they are detected at an early stage, but the prospects for recovery diminish substantially in the case of late stage detection. Currently, only an endoscopic exam can detect GI cancer at its early stages.

By increasing the accuracy of endoscopic diagnostics with AI, AIM is working to promote the early detection of cancer and save lives worldwide.

Through its collaboration with the SoftBank Group, AIM will promote the worldwide adoption of endoscopic AI, first created in Japan using the knowledge and experience of expert endoscopists.

This endoscopic AI will first be distributed on-premises, but distribution will eventually transition to a cloud platform to be developed by AIM. 

Realising the vision of cloud-based endoscopic AI will allow people around the world to access the latest endoscopic medicine, contributing to vastly reduced cancer mortality.

AIM Direction from Series C Financing Round include acceleration of global business development; and developing a proprietary cloud platform to eliminate GI cancer worldwide. 

By bringing endoscopic AI to real-world clinical setting as soon as possible, AIM aims to reduce the number of missed cancer diagnoses and save lives worldwide.

More details at https://www.ai-ms.com/en

-- BERNAMA