Spectral MD Holdings Ltd - London and Texas-based predictive analytics company - Announces securing USD18.8 million of additional funding from the US Biomedical Advanced Research & Development Authority. The funds will be used to expand the current clinical training study of Spectral's DeepView system for burn wound healing assessment, the company notes. The news means around USD93 million has now been received from BARDA in total to support the development of the company's artificial intelligence and multi-spectral imaging for wound healing assessment.
"We are grateful for the additional award of USD18.8 million from BARDA which was originally expected for March 2022," Chief Executive Wensheng Fan comments.
"Due to the strong collaboration between BARDA, Spectral MD, and our clinical partners, we were able to have the successful kickoff of the study at the first five sites which has enabled the award of this funding earlier than anticipated."
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By Will Paige; willpaige@alliancenews.com
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