SIMPLEX QUANTUM, Inc. Raises Round of Series A Funding
SIMPLEX QUANTUM, Inc. has raised JPY550 million in a round of Series A funding.
Simplex Holdings, Inc., along with the Technology Ventures No. 5 Investment Limited Partnership managed by ITOCHU Technology Ventures (ITV), and ITOCHU Corporation, invested the funds. This investment will help support SIMPLEX QUANTUM's clinical trial currently underway for submission to Japan's Pharmaceuticals and Medical Devices Agency (PMDA) as well as future US Food and Drug Administration (FDA) approval processes.
Hideki Kaneko, president of Simplex Holdings, Inc., states, "SIMPLEX QUANTUM's heart failure detection AI technology has generated interest from the healthcare industry, academia, and consumers. We expect SIMPLEX QUANTUM's technologies and achievements will help bring synergies to our expansion into non-financial industries, and we look forward to developing new business opportunities that maximize both companies' strengths going forward."
Takeshi Abe, senior vice president of ITV, says, "This system synergizes advanced analysis technology, access to massive amounts of clinical data, and the expertise of healthcare specialists. We support SIMPLEX QUANTM's plans to become a game changer in the medical industry while making the most of cooperation with our medical network to supply clinical data for technology verification."
Hiroshi Kajiwara, executive officer of the Information and Communications Division of ITOCHU Corporation, adds, "This breakthrough in detecting heart failure from an ECG is designed to reduce clinicians' workload and the cost of care. We support the global expansion of SIMPLEX QUANTUM with access to our network."
SIMPLEX QUANTUM recently announced receipt of a US patent for technology designed to reduce medical staff labor in determining heart failure stage. The system references data from hundreds of thousands of electrocardiograms (ECGs) and determines heart failure stage using deep learning methodology. SIMPLEX QUANTUM technology has not yet received US Food and Drug Administration (FDA) clearance for marketing in the US. However, with its pre-submission application to the FDA, the company initiated the regulatory pathway to market its technology as a medical device in the US.
SIMPLEX QUANTUM also recently completed a second US patent registration. It is for a system designed to accurately authenticate an individual's electrocardiogram (ECG) waveform data.
About SIMPLEX QUANTUM, Inc.
About ITOCHU Technology Ventures (ITV)
About ITOCHU Corporation
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