ImageIQ, a contract research organization specializing in image analysis for clients in the research, pharmaceutical and medical device industries, is the latest startup from Cleveland Clinic’s technology commercialization group.
CROs typically do development work for drug companies, helping screen drug candidates, perform animal testing and run clinical trials. Imaging CROs generally help drug and device firms, and research organizations analyze images they’ve collected in preclinical and clinical trials through technology such as MRIs or CT scans, for example.
Prior to formally launching the new CRO, Cleveland Clinic provided the research services to clients through its Biomedical Imaging and Analysis Center, part of the Lerner Research Institute. Amit Vasanji, former director of the center, is ImageIQ’s chief technology officer.
ImageIQ’s CEO is Tim Kulbago, former CTO and general manager with Merge Healthcare NASDAQ:(MRGE), a Chicago-based health IT firm.
ImageIQ doesn’t do imaging itself, said Kulbago. It gathers images from clients and runs them through proprietary software programs that produce clinical data obtained from the image. ImageIQ provides clients with a spreadsheet full of data about an image, which Kulbago acknowledged might seem surprising for a company that bills itself as an imaging CRO.
The company got its start via a grant from Ohio’s Third Frontier technology support program. Because the company is already generating revenue, Kulbago said it may not need any venture funding, but that’s yet to be determined.
“We’ll start exploring a series A in the fall and see if it makes sense for our business model,” Kulbago said.
