London, UK – 8th June 2022.
Apposite Capital, the healthcare specialist private equity investor, today announces that it has made a further investment in Mirada Medical, a world leader in precision imaging software and image guided tools for cancer care. This investment brings total investment in Mirada since Apposite first invested in 2019 to c. $20m of new growth capital.
Mirada has globally recognized capabilities in software for quantitative image analysis and disease characterization used to diagnose cancer and guide delivery of radiation-based treatments. Mirada’s software is currently used in over 2,000 hospitals globally and sold directly to hospitals as well as through strategic partnerships with the world’s leading imaging and radiotherapy companies, including GE, Boston Scientific, Canon, Philips, Varian and Change Healthcare.
For example, Mirada has formed a global collaboration with GE Healthcare to improve outcomes for cancer patients by integrating Mirada’s advanced automation and AI technologies to enable faster, more consistent and more precise cancer radiotherapy treatment.
Additionally, Mirada has partnered with Boston Scientific to develop and commercialize Simplicit90Y™, a software product that enables personalization of dosimetry planning for TheraSphere™, a radiation-based cancer treatment that utilizes microscopic radioactive glass microspheres. The precision dosimetry capabilities enabled through Mirada’s software have been proven in clinical trials to dramatically improve response rate, survival, and the proportion of patients that become eligible for potentially curative surgical treatments.
Sam Gray, Managing Partner of Apposite Capital and a member of Mirada’s Board of Directors, commented: “Mirada operates at the intersection of a number of high growth themes in healthcare, including the increasing adoption of AI in medical imaging and analysis, increased use of precision tools for enabling higher dose radiation treatments, and the development of novel interventional oncology and radiopharmaceutical modalities. We are delighted to back the world-class management of the company, now represented on both sides of the Atlantic, as they continue to commercialize and develop these solutions.”
Jon DeVries, CEO of Mirada, also commented: “Mirada is thrilled that Apposite believes strongly enough in our mission to double down on their investment. Everyone’s cancer is unique to them, and our vision is to transform cancer care by delivering personalized, image-guided cancer therapies to patients everywhere. Mirada delivers world-class technologies such as the first FDA cleared AI application for radiation oncology and solutions proven in clinical trials to improve patient outcomes. The funding provided by Apposite will enable us to continue to grow and deliver transformative solutions to physicians.”
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About Apposite Capital
Apposite Capital is an independent investment firm focused exclusively on healthcare. It backs companies operating in health and social care, medtech & medical products, pharmaceuticals & life sciences and digital health.
Apposite Capital operates at the small end of the private equity market, providing both capital and expertise to those businesses offering ‘disruptive’ models that aim to improve or reduce the cost of care provision and which have the potential to become market leaders.
Apposite has an in-depth sector knowledge covering key aspects of the healthcare industry internationally, an exceptional network and an entrepreneurial mindset which it applies to drive the growth of its portfolio companies both organically and inorganically.
Apposite Capital was established in 2006 and is headquartered in London, UK.
Mirada Medical is a leading international provider of image analysis software for radiology and oncology. It extracts information from image data to help physicians deliver personalized and precise image-guided cancer treatments. The company drives innovations that work in harmony across three specialties: diagnostic imaging, technologies for external beam radiotherapy (RT) applications, and treatment plans for interventional procedures.
The company specializes in simplifying technically complex image processing tasks, allowing clinicians to diagnose disease, assess response to treatment, and plan radiation therapy or surgical intervention more confidently. Mirada’s advanced technology products are available throughout the world under its own brand, and on an OEM basis through a select number of the world’s leading healthcare companies.