Corsmed, a Stockholm-based MedTech startup, has raised €3.3 million in its latest funding round to revolutionize diagnostic imaging. With support from Luminar Ventures and Big Pi Ventures, the company aims to secure FDA approval for its innovative MRI software, promising to significantly reduce scan times and tackle bottlenecks in global healthcare systems.
MRI technology has long been a cornerstone of modern diagnostics, yet it’s often plagued by high costs and long wait times. Corsmed’s cutting-edge software offers a breakthrough solution—transforming MRI scans from lengthy 45-minute sessions to just 2-3 minutes. This leap in efficiency could dramatically improve patient outcomes while reducing operational costs for healthcare providers.
Founded in 2019 by Erik Jacobsson (CEO), Christos Xanthis (CTO), and Athanasios Polimeridis (CSO), Corsmed is pioneering digital twin technology for MRI simulations. This software not only accelerates scans but also supports institutions by replacing thousands of hours of traditional scanner usage. Key partners like The Christie NHS Foundation Trust, CNI College, and Gurnick Academy already rely on Corsmed’s technology for training and staff development.
Erik Jacobsson, CEO of Corsmed, shared the vision behind their innovation: “Today’s healthcare systems often act as sick-care systems, addressing issues too late. We’re working toward a future where routine, whole-body scans can catch diseases like cancer in their earliest stages, giving everyone a fair shot at a healthier life.”
This mission is timely. According to the UK’s NHS Diagnostic Waiting Times report, over 25% of patients wait six weeks or more for an MRI scan—far exceeding the NHS’s target of 1%. Corsmed’s technology is positioned to alleviate this strain, saving valuable time and resources for healthcare providers.
While many AI-accelerated solutions offer incremental improvements, Corsmed’s software delivers a quantum leap in performance. By leveraging advanced algorithms, the company’s system generates high-resolution, full 3D brain contrasts in just three minutes—ten times faster than current industry standards. This capability not only streamlines diagnostic workflows but also makes preventive healthcare more feasible and cost-effective.
Quantitative imaging is another game-changer. Corsmed’s approach shifts MRI scans from qualitative assessments to precise, objective data tracking. This allows clinicians to monitor health changes over time, improving early detection of conditions and enabling personalized treatment plans.
The recent funding round brings Corsmed’s total investment to €9.5 million. This infusion of capital will support the company’s FDA approval process, ensure compliance with HIPAA standards, and expand its global reach. The software’s affordability also has the potential to democratize access to advanced imaging, making MRI technology available to a wider population.
Magnus Bergman, co-founder of Luminar Ventures, highlighted the broader implications of this technology: “Democratizing MRI scans is pivotal for preventive healthcare. Corsmed’s innovations can save thousands of lives daily by enabling cost-effective, early detection of life-threatening conditions. This technology is leading a wave of exponential advancements in medical imaging.”
Nick Kalliagkopoulos, Partner at Big Pi Ventures, added: “Corsmed’s technology represents a paradigm shift in healthcare. Their work has the potential to unlock new possibilities in personalized medicine, and we’re thrilled to support their journey.”
Corsmed’s progress signals a brighter future for global healthcare. By addressing critical bottlenecks in diagnostic imaging, the company is paving the way for earlier interventions, reduced healthcare costs, and better patient outcomes. As they advance toward FDA approval and broader commercialization, Corsmed’s innovations could redefine how we think about preventive and personalized medicine.
medtech innovation, mri technology, healthcare advancements, preventive medicine, digital twin technology, ai in healthcare, medical imaging solutions, fda approval, global healthcare solutions, quantitative imaging
