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Gleamer raises €7.5 million to export its automatic fracture detection software

Paris-based medtech company Gleamer raises $8.7 million (€7.5 million) to accelerate the deployment of its automatic bone fracture detection software. Designed for radiologists, BoneView analyzes medical images and frames the injured area(s). The objective is to free up the practitioner’s time to enable him or her to perform tasks with higher added value.

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This picture show an hospital radiologist room.

The startup Gleamer, a specialist in automated bone fracture detection, has just raised $8.7 million (€7.5 million). The latest fundraising to the amount of $1.75 million (€1.5 million) took place in September 2018.

The round was led by XAnge, with the arrival of MACSF, Majycc eSanté Invest and Crista Galli Ventures, and the participation of historical investors Elaia and the fund Ambition Amorçage Angels (F3A), managed by Bpifrance as part of the investment program for the future (PIA). 37 radiologists also took part in this round of financing.

If you want to find more details about the last fundraising the French biotech  company Gleamer has completed and what it plans to do with the money, download for free the Born2Invest mobile app. Stay up to date with the latest business headlines with our companion app, the best online news aggregator.

BoneView is freeing up radiologists’ time

Founded in 2017, the young Parisian company has developed software based on artificial intelligence that detects lesions in trauma radiography. This tool, called “BoneView”, is aimed at radiologists who spend a large part of their time doing traumatic X-rays. 

The software is associated with the X-ray machine, it will detect the fractured area(s) on the medical image and present its conclusions to the practitioner. In practice, BoneView frames the injury on the X-ray to allow the radiologist to visualize the injury.

The objective of BoneView is to automate the reading of medical images to free up the practitioner’s time to focus on higher value-added tasks. According to a clinical study conducted by Gleamer, BoneView software has reduced the rate of undetected fractures by 30%, while significantly reducing the time required to read X-rays.

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The software is used by 10% of French radiologists

BoneView has obtained the CE mark, an indispensable label for marketing in the European Union. It is now used by more than 50 hospitals, including the AP-HP hospital group, and clinics in France and has 800 users, “representing nearly 10% of all French radiologists,” said the young company, which has around 50 employees.

AI is starting to be increasingly used in the medical sector

Thanks to this new financial contribution, Gleamer hopes to accelerate the deployment of its AI software in Europe, the Middle East and Latin America. It also wants to conquer the American market, which requires approval by the Food and Drug Administration (FDA), the agency in charge of regulating food, drugs and medical devices in the United States. Finally, the company aims to expand its products beyond radiology.

The contribution of artificial intelligence in the medical sector is well established, particularly in radiology. For this reason, Gleamer is not the only company in this market. The Parisian startup AZmed markets a software that detects fractures, a solution very similar to the one proposed by Gleamer. Giants are also present in this sector. The German company Siemens Healthineers has developed a software capable of automatically detecting the different organs of the thorax and the signs of a disease in a single click. “AI-Rad Companion Chest C” is used in particular by radiologists at the Foch Hospital in Suresnes in the Hauts-de-Seine region of France.

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(Featured image by Bokskapet via Pixabay)

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Anthony Donaghue writes about science and technology. Keeping abreast of the latest tech developments in various sectors, he has a keen interest on startups, especially inside and outside of Silicon Valley. From time to time, he also covers agritech and biotech, as well as consumer electronics, IT, AI, and fintech, among others. He has also written about IPOs, cannabis, and investing.