VirtualScopics closes $3.8M financing

February 19, 2003

GE Medical Systems and affiliates of venture capitalist Trillium Group are the primary contributors of some $3.8 million invested in VirtualScopics as part of that company's Series C round of financing. The Pittsford, NY, provider is developing a suite

GE Medical Systems and affiliates of venture capitalist Trillium Group are the primary contributors of some $3.8 million invested in VirtualScopics as part of that company's Series C round of financing. The Pittsford, NY, provider is developing a suite of image analysis tools that detect and help characterize tiny changes in physical structures over time. The firm's image-based biomarker solutions are designed to accelerate the pharmaceutical R&D process by rapidly measuring the efficacy and safety of drug compounds. The technology might also be leveraged to improve treatment planning and diagnosis for patients. GE plans to collaborate with VirtualScopics to advance the application of its imaging technology in clinical trials. The firm's proprietary software algorithms can assemble hundreds of separate medical images taken during an MRI session into a single 3D model.