Mar 12, 2024
Promedius secures Series A2 investment amidst frozen investment market
Promedius, a musculoskeletal and metabolic disease specialized medical AI startup, secured Series A2 investment. The Series A2 investment was led by Starset Investment, a VC specializing in the biohealthcare sector, with new participants including Korea Investment Partners, Woori Venture Partners, and CRIT Ventures. In addition, strategic investments from DK Medical, a leading Korean X-ray manufacturer, and Big Move Ventures, the CVC of Bumin Hospital Group, are also included; along with the investment completion, Promedius’ extensive cooperation within the healthcare sector is anticipated.
Notably, this is the first investment since the pivot from the existing medical imaging AI platform, reflecting the industry's trust in Promedius’ innovative solutions and growth potential.
A spin-off from the Medical Imaging and Intelligent Reality Lab (MI2RL) at Asan Medical Center in Seoul, Promedius has focused on developing and commercializing AI technology that automatically analyzes a patient’s risk of osteoporosis using chest X-ray images. While dual-energy X-ray absorptiometry (DXA), the current gold standard for osteoporosis diagnosis, provides precise bone density measurements, its low accessibility limits timely diagnosis and poses challenges worldwide.
Promedius addresses this gap by utilizing easy-to-access chest X-rays for the opportunistic screening at-risk individuals for osteoporosis, which can lead to timely DXA testing, enabling early diagnosis and treatment to prevent fractures. This approach enables early diagnosis and treatment, ultimately helping to prevent fractures.
Hyunjin Bae, CEO of Promedius, stated, “With this Series A2 funding, we are pleased to further advance our AI solutions for the early detection and management of musculoskeletal and metabolic diseases, including osteoporosis. We will continue to pursue our global mission of ‘Delaying aging through AI.’”