Penningtons Manches has acted for Image Analysis Limited, a privately-held digital health software and services provider of medical imaging analysis in clinical trials and daily clinical practice, on its $5.2m venture capital financing by Danish Research Foundation and RBV Capital.
The new financing will be used to expand Image Analysis’ global client base and to further develop its proprietary software platform Dynamika and its clinical research services.
Based in London and Stamford, USA, Image Analysis Limited is a leader in the rapidly growing market for magnetic resonance imaging (MRI) data quantification and analysis. It helps its partners to design and manage their clinical studies for the most effective use of resources while providing earlier, more convincing evidence of treatment effect with smaller patient cohorts.
The Penningtons Manches team was led by Oxford-based corporate lawyer, James Went, who said: “We were delighted to complete this first major piece of work for new client Image Analysis. It’s a really dynamic business that fits squarely within our technology and life sciences focus.”
Image Analysis founder and CEO, Dr Olga Kubassova, said: “We really appreciated Penningtons Manches’ responsiveness and efficiency in helping to complete this financing within tight timescales.”
The company’s software and services improve the accuracy of diagnostic assessments and research decisions for global pharmaceutical companies and clinical research professionals developing treatments for inflammatory musculoskeletal conditions, neuro-inflammation, oncology, cardiac perfusion and rare diseases.
Dechert LLP acted for incoming investor RBV Capital.