Coralville-based VIDA Diagnostics has received a $2 million investment from OSF Ventures, the corporate investment arm of OSF HealthCare, as a second close of its C round funding.
This investment comes after an $11 million investment round last month led by First Analysis Corporation and will further fuel development and commercialization of VIDA’s innovative solutions to impact patient care for both traditional respiratory diseases as well as emergent COVID-19 conditions.
“OSF is an ideal strategic partner for VIDA. Through both capital and access to clinic leaders, OSF is a catalyst in expanding the footprint of our FDA-approved, AI-powered imaging solutions in this growing market,” said Susan A. Wood, CEO of VIDA. “Providing access to analysis like LungPrint has never been more important, given the global COVID-19 pandemic on top of an already growing trend of chronic respiratory and lung diseases.”
VIDA has developed, LungPrint, an AI-powered suite of products and services used to uniquely profile and manage the patient with, or at-risk of, lung diseases.
“We invest in leading-edge solutions that make an immediate impact for OSF Healthcare’s care teams and patients,” said Garrett Vygantas, Managing Director at OSF Ventures. “VIDA’s LungPrint solution helps radiologists and pulmonologists gain valuable insight into each patient’s unique condition, which determines the appropriate treatment plan. We see real value for this new technology to help treat patients with COPD, lung cancer and other pulmonary diseases -and we anticipate LungPrint will help us in the future manage new populations experiencing COVID-19 and determine appropriate follow up and long-term care.”
Vida Diagnostics raises $11 million Series C round –March 12, 2020
At Clay & Milk, we want to tell stories about the many ways entrepreneurs and startups are adapting and stepping up to combat coronavirus. Fill out this form to tell us your story and we will be in touch.