SAN FRANCISCO--(BUSINESS WIRE)--Siris Medical, a Redwood City-based company which has commercialized the first artificial intelligence treatment decision support system in radiation therapy, announced today it has raised $4.0 million in Series A1 financing. The proceeds will be used to expand commercialization of its QuickMatch™ software to improve radiation treatment based on insights from past successful therapy.
“We believe that Siris offers a tool to support clinicians in their effort to efficiently deliver the highest quality radiation treatment plans for those patients needing radiation therapy,” said David Kim MD, CEO of DigiTx Partners. “At DigiTx, we seek partners with innovative solutions to solve problems identified with their valuable domain knowledge. We are excited to support Siris at this commercial stage as the company works to deliver this solution to an expanded set of treatment locations in both the academic medical center and community settings.”
Radiation therapy is currently delivered to nearly two-thirds of all patients who undergo cancer treatment, including over 1.3 million people in the United States annually. While radiation therapy is effective in a broad range of cancers, studies show there is a wide degree of variability in treatment quality. By leveraging past successful treatments, QuickMatch augments the clinicians’ wealth of knowledge to efficiently gain insights for the best treatment.
“We are excited to team up with focused investors to expand our commercial footprint and advance our technology,” said Colin Carpenter, CEO of Siris Medical. “There is a strong need to ensure the best treatment decision for patients diagnosed with cancer. This partnership will help enable Siris Medical to bring our solution to more patients and advance our objective to become the standard of care in radiation treatment decisions.”
As part of the transaction, Dr. David Kim and Dr. Jason Pyle, CEO of BaseHealth, will join the company’s Board of Directors.
About Siris Medical
Siris Medical empowers clinicians to achieve efficient high-quality cancer treatment decisions. It has commercialized the first FDA 510(k) cleared artificial intelligence decision support platform in radiation oncology. It is a member of both the North Shore InnoVentures and the UCSF / QB3 Rosenman incubation programs.