Apposite Capital invests further in Mirada Medical
London-based healthcare private equity investor Apposite Capital has made a further investment in Mirada Medical, an Oxford-headquartered precision imaging software and image guided tools for cancer care.
This investment brings the total investment in Mirada since Apposite first invested in 2019 to around $20 million of new growth capital.
Mirada has capabilities in software for quantitative image analysis and disease characterisation used to diagnose cancer and guide delivery of radiation-based treatments. Mirada’s software is used in more than 2,000 hospitals globally and sold directly to hospitals as well as through strategic partnerships with imaging and radiotherapy companies, including GE, Boston Scientific, Canon, Philips, Varian and Change Healthcare.
For example, Mirada has formed a global collaboration with GE Healthcare integrating Mirada’s advanced automation and AI technologies to enable faster, more consistent and more precise cancer radiotherapy treatment.
Mirada has also partnered with Boston Scientific to develop and commercialise Simplicit90Y, a software product that enables personalisation of dosimetry planning for TheraSphere, which has dramatically improved response rate, survival, and the proportion of patients that become eligible for potentially curative surgical treatments.
Sam Gray, managing partner of Apposite Capital and a member of Mirada’s board, said: “Mirada operates at the intersection of a number of high-growth themes in healthcare, including the increasing adoption of AI in medical imaging and analysis, increased use of precision tools for enabling higher dose radiation treatments, and the development of novel interventional oncology and radiopharmaceutical modalities. We are delighted to back the world-class management of the company, now represented on both sides of the Atlantic, as they continue to commercialise and develop these solutions.”
Jon DeVries, chief executive of Mirada, added: “Mirada is thrilled that Apposite believes strongly enough in our mission to double down on their investment. Everyone’s cancer is unique to them, and our vision is to transform cancer care by delivering personalised, image-guided cancer therapies to patients everywhere. Mirada delivers world-class technologies such as the first FDA-cleared AI application for radiation oncology and solutions proven in clinical trials to improve patient outcomes. The funding provided by Apposite will enable us to continue to grow and deliver transformative solutions to physicians.”