SpinTech, a Detroit-based developer of medical imaging software, has received an unspecified investment from Holland, Mich.’s Genesis Innovation Group’s cultivate(MD) Capital Fund II LP to continue its work to commercialize improvements in brain scan MRIs.
The technique and software SpinTech is developing is designed to solve one of the problems facing radiologists today — that biomarkers critical for proper diagnosis and treatment of brain disorders are difficult to accurately detect in a meaningful timeframe and within clinical workflows.
SpinTech’s data acquisition technique and post-processing software enhances visualization of biomarkers that weren’t visible in the brain before while improving throughput and accuracy, making it a significant advancement in imaging.
“The investment funds will be used to support commercialization of our first FDA-cleared product while expanding pilot testing of our next-generation products,” says Ward Detwiler, CEO of SpinTech. “The medical device expertise that Genesis brings to the team will be a major asset as we bring this exciting new platform to market.
“The innovative platform we have developed not only makes brain imaging faster and easier to read, but also provides quantitative data that improves accuracy and allows for enhanced detection through AI, which will significantly improve radiologists’ workflow while enhancing patient care.”
Genesis’ cultivate(MD) fund focuses on investments in early stage healthcare companies with innovative technologies.