Therapixel secures a €5 million Series A financing and strengthens its governance

Therapixel secures a €5 million Series A financing and strengthens its governance
Wednesday, March 13, 2019

Omnes and M Capital Partners co-lead the round to join historical investors

Financing enables next phase of deployment of Company’s award-winning AI-powered primary reading solution for breast cancer screening

Sacha Loiseau, chairman and founder of Mauna Kea Technologies, joins as independent Board Member and is appointed Chairman of the Board

Paris – March 13th, 2019 – Therapixel, the AI company winner of the DREAM Digital Mammography challenge, announces a €5 million Series A financing with Omnes and M Capital Partners joining its pool of investors Région Sud Investissement (managed by Turenne Capital), IT-Translation and Credit Agricole (Creazur). As part of this important funding milestone, Sacha Loiseau, Chairman and Founder of Mauna Kea Technologies, was appointed as independent Board Member and subsequently elected Chairman of the Board. Maximilien Fournier-Sourdille, an associate at Omnes and an experienced MedTech executive and investor, also joins the Board of Director, along with Yoann Bonnamour from M Capital Partners. Olivier Clatz, co-founder of Therapixel, has recently been named by the French Innovation Council as "AI for diagnosis" Program Manager; he will smoothly transition out of the Company. Pierre Fillard, CTO and co-founder, has been appointed CEO until a new chief executive joins the Company.

Therapixel is the winner of the DREAM Digital Mammography Challenge in 2017, the largest AI competition ever organized, with 1,200 participants and a $1.2 million money prize. Therapixel has demonstrated its ability to develop world’s best AI-based algorithms for breast cancer screening. Since the Challenge, Therapixel has further improved its algorithm to reach the performance level of best radiologists.

Breast imaging is one of the most needed radiology specialty with one woman out of eight affected during her lifetime and 250 million mammograms analyzed every year worldwide. Breast cancer diagnosis is very challenging with only 0.5% of mammograms containing cancerous tissue and 10% are false positive.

Pierre Fillard, co-founder and CEO of Therapixel, declared: “Therapixel is entering a new and exciting phase. With this financing round and the strengthening of our governance, I am confident that we will continue to attract the best talents and maintain our leadership.”

Sacha Loiseau, Chairman of Therapixel, added: “Therapixel has proven to be a leader in the field of artificial intelligence applied to one of the key challenges in cancer screening. I am delighted to join the company at this key moment and to work hand in hand with Pierre and his team to bring value to our shareholders.”

Therapixel’s team is truly outstanding and has succeeded in demonstrating, over and over, its technical superiority”, said Maximilien Fournier-Sourdille, Associate at Omnes. “We are pleased to join this journey and strongly believe Therapixel is geared to achieve a major improvement in breast cancer screening”.

Yoann Bonnamour, Senior Associate at M Capital Partners, added: “We’re excited to support the outstanding team at Therapixel and to help tackle one of the most important challenges in healthcare today.”