First Analysis Corporation led the round of financing with initial equity participation from UnityPoint Health Ventures and Blue Heron Capital
FREMONT, CA: VIDA Diagnostics, an AI-powered suite of products and services used to uniquely profile and manage the patients with lung diseases, announced the closure of $11M Series C round of financing. First Analysis Corporation led the round of financing with initial equity participation from UnityPoint Health Ventures and Blue Heron Capital.
Existing investors, including Chartline Capital Partners, Next Level Ventures, Rittenhouse Ventures, Iowa First Capital Fund, Rural Vitality Fund, and The Angels' Forum, also participated in the funding. VIDA plans to use the funds to address market scarcity in the early assessment, monitoring, and treatment of lung disease by speeding up the commercialization of its primary LungPrintÂ solution suite and by increasing LungPrint's clinical portfolio.
"We are driven to continuously raise the standard of care for patients with or at risk of lung disease. By equipping care teams with LungPrint, patient care and quality of life can be positively affected," said Susan A. Wood, Ph.D., and CEO for VIDA. "VIDA is endlessly thankful for the extensive support of the people, resources, and programs from the State of Iowa, leading to this expansive funding. VIDA can now accelerate LungPrint's market access, further connecting its benefits to the many millions of patients with lung disease."
Despite the fact that over 500 million people are affected with lung disease globally, access to precise information for early detection and optimal treatment planning is not readily available. VIDA's LungPrint, which is an AI (Artificial Intelligence) - driven lung analysis solution, and similar other solutions, helps improve the standard of lung care. These solutions evaluate patients with or at risk of lung disease, including asthma, emphysema, and airway obstructive diseases (COPD), lung cancer, and interstitial lung disease.
"VIDA is an outstanding corporate citizen. The company's commitment of employing and training Iowa-based engineers and scientists not only contributes to our economic growth, but also reinforces our skilled, productive workforce. The State of Iowa is proud of VIDA's accomplishments, its worldwide recognition and to be a partner with them through robust economic development programs," said Iowa Governor Kim Reynolds.
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