Februari 2024 – RheumaFinder is excited to announce an investment from Belgium’s Novalis Biotech Acceleration Fund. This investment, executed as a seed-participation in December 2023, marks a pivotal step in the company’s journey.
RheumaFinder is at the forefront of revolutionizing incidental detection in medical imaging with cutting-edge AI technology. Given the propensity for diagnostic delays and underdiagnosis in rheumatic diseases, RheumaFinder addresses this critical clinical need head-on.
The company’s innovative engine diligently analyzes standard medical images to incidentally detect clinically relevant structural damage in joints. These lesions can be indicative for, amongst others but not limited to, rheumatic diseases. This incidental detection tool serves as an invaluable aid to radiologists and clinicians, contributing to sustainable healthcare practices by ultimately helping radiologists in identifying these lesions. This ensures that patients who may be unaware of their condition can receive timely and appropriate treatment when the radiologist foresees referral to relevant clinicians, streamlining the healthcare pathway.
RheumaFinder’s ultimate goal is to facilitate incidental detection of structural joint lesions for numerous patients, thereby safeguarding joint health.
With this new infusion of capital, RheumaFinder aims to further develop and clinically validate their AI software solution. Additionally, the company plans to initiate conversations with external parties such as hospitals, clinics, and pharmaceutical companies for potential collaborations, enhancement of clinical trials and beta testing opportunities.
Wim Van Criekinge, Co-Founder and Managing Director of Novalis, praised RheumaFinder: “”Their exceptional team and founders’ expertise deeply impressed us. We are aligned with their vision of a lean AI engine that addresses the currently unmet clinical need for incidental detection of clinically relevant structural joint lesions, regardless of the associated diagnosis. We’re confident that their technology’s multimodal sensitivity has potential for broad market applications and will make RheumaFinder a standout in the maturing medical imaging AI sector.”
Nicolaas Fosselle, CEO of RheumaFinder, commented on the collaboration: “Novalis has been an invaluable addition to our funding process, bringing not just financial support but also a synergistic ecosystem to bolster our ambitious growth. Our interactions with Kjell Mortier and Wim Van Criekinge at Novalis during late fall solidified our initial impressions, leading to a timely and fruitful agreement. Novalis’s commitment to translate extensive scientific and clinical research towards commercialization aligns perfectly with our mission to address the societal and patient challenges posed by a general lack of using the opportunity of incidentally detecting clinically relevant joint lesions.”