Visiopharm Closes Investment Round to Grow Diagnostic Digital Pathology Business

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Visiopharm announces today the closing of a private round of financing with NorthCap Partners. The investment will assist Visiopharm to further accelerate business growth and strengthen their position as a market leader for image analysis driven diagnostic digital pathology solutions.

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Visiopharm, the leader in image analysis for diagnostic digital pathology, announces today the closing of a private round of financing with NorthCap Partners. The investment amount is undisclosed.

This investment will assist Visiopharm to further accelerate business growth and strengthen their position as a market leader for image analysis driven diagnostic digital pathology solutions.

"It has been exciting to see how much Visiopharm's ONCOtopix™ Dx solution has energized the pathologists, and how fast we have achieved adoption in a market that is traditionally regarded as relatively conservative. The ability to square the almost impossible healthcare circle, and provide better diagnostic data, reduce turn-around-times, and all at a lower cost is very compelling to pathologists. The ONCOtopix™ solutions are built around strong intellectual property; IP that will enable the company to defend their very unique value proposition. All of this, and a proven track record for success, made Visiopharm an attractive investment for us," said Thomas Weilby Knudsen, General Partner at NorthCap Partners.

Johan Doré, CTO and co-founder of Visiopharm continues: "A hallmark of ONCOtopix™ is that it is truly an open system. We have made a deliberate effort to validate our CE-IVD algorithms across reagent kits from Dako, Leica, and Ventana as well as for leading whole slide scanners. We support all leading slide scanner formats, and participate in the DICOM Working Group 26 for whole slide imaging. We have developed a simple, time and cost efficient model for LIS integration. Diagnostic pathology labs can then leverage their existing AP-LIS system when introducing digital pathology into the diagnostic laboratory. Pathologists maintain the freedom and ability to always select best of breed solution components for digital pathology, rather than being locked into a specific vendor for everything."

"The market recognizes the value of telepathology and multi-disciplinary tumor boards. But it has become increasingly clear to us that the real value of diagnostic digital pathology cannot be realized without image analysis as an integrated part of the workflow and complete solution. With our solution partners we have been able to deliver an end to end diagnostic digital pathology solution. As a result, we are now seeing adoption on a national scale here in Denmark. It has been very encouraging to see how well our message is resonating with pathologists and oncologists outside Denmark, and how many diagnostic pathology labs we are currently engaging with. This investment will support our efforts to effectively expand our presence outside Denmark, and to support our customers and clients internationally," said Michael Grunkin, CEO and co-founder of Visiopharm.

About Visiopharm

Visiopharm image analysis software has become the preferred Quantitative Digital Pathology solution for leading biopharmaceutical companies, contract research organizations (CRO), academic medical centers, and for hospital diagnostic pathology labs around the world. Recently Visiopharm expanded to include ONCOtopix™ Dx, a robust solution for cancer diagnostics with CE-IVD algorithms for the breast panel, integrated LIS driven workflow, and Virtual Double Staining. Our software is featured in over 800 scientific publications, and is compatible with leading slide scanner manufacturers, data management software, and a wide variety of microscopes and cameras. Our growing network of authorized distributors and integration partners support the growth of Visiopharm solutions on several continents including North America, Europe and Asia. Our headquarters is located in the Medicon Valley of Denmark, with a branch office in the Netherlands, and North American offices in Colorado and California.

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Amanda Lowe
Visiopharm
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