Quantum Imaging Ltd. the UK-based medical device company working to reduce A&E congestion by developing an imaging device to rapidly triage patients presenting with chest pain, has announced completion of a new £4.6m investment with participation from all existing and new investors to further drive product commercialisation.
The series “A” round, led by IP Group plc, will allow further development of Quantum Imaging’s unique imaging technology and saw additional investment from existing shareholders; IP Group and the University of Leeds, as well as Quantum Imaging management and a number of new investors.
Steve Parker, CEO of Quantum Imaging, said “The timing and size of this investment is important to the company as it allows us to fully commit to an aggressive product and platform development and clinical research strategy whilst building a high quality team and facilities.”
Simon Graindorge, Director, Healthcare, at IP Group commented:- “IP Group has been involved with Quantum Imaging from the very beginning and we have been delighted with the progress achieved to date and the exciting early clinical results that this world – class science is demonstrating”.
Further commenting on the investment, company chairman Robert Barr said “The pace at which this company has advanced, since its inception two years ago, is impressive and this investment brings the launch of a device to help alleviate the well-publicised challenges faced by emergency departments around the world much closer.
Quantum Imaging was spun out of the University of Leeds in 2014 to commercialise imaging technology developed in the university’s Quantum Information group and has since completed two clinical studies providing strong evidence and the basis for further product development. The company’s first area of development is the rapid triage of patients presenting in the Emergency Department with chest pain.