Nanox Imaging announced today that it secured $26 million in funding in support of the development, commercialization and deployment of its Nanox System for early detection of medical conditions.
With participation from strategic investor Foxconn, along with Fujifilm (TSE:4901), SK Telecom and other private investors, Neve Ilan, Israel-based Nanox said its total funding is now at $55 million for the Nanox System.
The Nanox System includes the Nanox.Arc X-ray device and the Nanox.Cloud companion cloud-based software designed to offer an end-to-end medical imaging service. The company expects the system to include image repository, radiologist matching, online and offline diagnostics review and annotation, connectivity to diagnostic assistive artificial intelligence systems, billing and reporting.
Nanox Imaging’s system is designed to promote the early detection of medical conditions that are discoverable by X-ray in a more cost-effective way than modes such as CT, mammography, fluoroscopy and angiogram. If the system wins regulatory approval, the company plans to deploy it in collaboration with governments, hospitals and clinic chains.
“We are honored to have Foxconn join other world leaders, Fujifilm and SK Telecom, in investing in our vision of eradicating cancer,” Nanox founder & CEO Ran Poliakine said in a news release. “Nanox has achieved a technological breakthrough by digitizing traditional X-rays, and now we are ready to take a giant leap forward in making it possible to provide one scan per person, per year, for preventative measures.”