Israeli digital X-ray co Nanox raises $26m

Ran Poliakine / Photo: LUZ Corporate Photography

Israeli innovative medical imaging technology company Nanox-X Imaging Ltd. announces today that it has completed a $26 million financing round with participation of strategic investor Foxconn, Fujifilm, SK Telecom and other private investors. Based in Neve Ilan near Jerusalem, the company has raised $55 million to date including the latest investment. The funds will be used to support the development, commercialization, and deployment of Nanox's System.

The Nanox System is composed of the Nanox.Arc, a novel digital X-ray device and the Nanox.Cloud, a companion cloud-based software that will be designed to provide an end-to-end medical imaging service, that is expected to include image repository, radiologist matching, online and offline diagnostics review and annotation, connectivity to diagnostic assistive artificial intelligence systems, billing, and reporting.

The Nanox System will promote early detection of medical conditions that are discoverable by X-ray. The company believes its unique digital X-ray source technology, combined with its planned software solution, will enable it to build medical imaging systems at significantly lower costs than existing medical imaging systems to promote early detection of medical conditions that are discoverable by X-ray and X-ray based imaging modalities such as CT, mammography, fluoroscopy and angiogram.

Following regulatory approval, Nanox plans to deploy its system in collaboration with governments, hospitals and clinic chains. The company will offer its Nanox.Arc under a pay-per-scan business model, at affordable and substantially lower prices than currently available alternatives.

The Nanox.Cloud is being designed to provide an end-to-end medical imaging service, that covers AI analysis and more. The Nanox System is designed to enable medical screening as a service to improve the accessibility and affordability of early-detection services worldwide.

Nanox founder and CEO Ran Poliakine said, "Nanox has achieved a technological breakthrough by digitizing traditional X-rays, and now we are ready to take a giant leap forward in making it possible to provide one scan per person, per year, for preventative measures."

Published by Globes, Israel business news - en.globes.co.il - on January 16, 2020

© Copyright of Globes Publisher Itonut (1983) Ltd. 2020

Ran Poliakine / Photo: LUZ Corporate Photography
Ran Poliakine / Photo: LUZ Corporate Photography
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