Calculus has invested £0.5m into Spectral AI through an oversubscribed initial public offering onto AIM, on Tuesday 22 June 2021.
The Dallas-based firm, which is building notable presence in the UK, produces predictive analytics, proprietary AI algorithms and imaging systems to assist with medical treatment. Spectral AI’s technology, including its DeepView wound imaging system, aims to improve the accuracy and speed at which damaged tissue is identified and treated.
The investment will be used to develop and trial a product that identifies diabetic foot ulcers, meet the necessary regulatory approvals in Europe, expand US distribution and provide the group with working capital.
The market for this product is significant and continually growing worldwide. Diabetes affects over 30 million people in the US and more than 415 million globally.