A consortium of five investors led by business angel Dr. Adriaan Hart de Ruijter is providing microDimensions a seven-figure sum to expand the product portfolio. Investors in the Series A financing also include High-Tech Gründerfonds (HTGF), Bavaria Capital and a group of other business angels.
The company offers automated analysis of microscopic images, which is designed to significantly accelerate workflows for (pre-)clinical studies in drug development and clinical diagnostics.
Dr. Martin Groher, CEO of microDimensions, explains:
"The key drivers for digitalization are the stagnating number of pathologists and the high complexity of biomarker analysis. This is driving increased demand for efficient workflows and cost-effective solutions in the life sciences industry and clinical pathology facilities."
Software solutions that support the fight against cancer
With the new capital, his startup aims to exploit the potential of modern technologies such as automated image analysis, big data and deep learning:
We will develop software solutions that help our customers find the right answers to critical threats to our health, such as cancer."
Lead investor Dr. Adriaan Hart de Ruijter explains his commitment:
"Many research institutions are pioneers in their field and have software requirements that cannot be met with a standard product. Based on the technology and the company's expertise, microDimensions can offer customized solutions and image analysis services on demand—exactly as the customer needs them."
microDimensions' software products are used by pharmaceutical, biotech, and medical device companies, as well as in various university pathology departments. Estimates suggest that the digital pathology market will reach a volume of $5.2 billion by 2020.
