DENSITAS GETS FINANCIAL BOOST FROM INNOVACORP
Nova Scotia startup company about to introduce line of mammography software products
Halifax, Nova Scotia – October 22, 2015 – Halifax-based Densitas, a software medical device startup, today announced Innovacorp’s investment of $250,000 in the company. The investment from Nova Scotia’s early stage venture capital organization is part of a larger seed round which includes investment from private investors.
Densitas is developing a comprehensive solution for the digital mammography enterprise based on unique imaging analytics technologies.
“The investment Innovacorp has made in Densitas is timely,” said Mohamed Abdolell, CEO of Densitas. “We’re on the cusp of delivering our first commercial product, DM-Density, and at the same time developing follow-on products. This investment will give us added financial assurance on our path to commercialization.”
DM-Density is an adjunctive tool that radiologists use when reviewing a woman’s mammogram to determine breast density. Accurately assessing breast density is an important part of the mammography process, as dense breasts have a higher risk of developing breast cancer, and the dense breast tissue appears the same as cancer on the X-ray image. DM-Density provides breast density assessment that is automated, precise, standardized, and reproducible to address the problem of compliance with breast density reporting, standards and laws.
“At Innovacorp, we foster innovative startups in our province that have the potential to change the world,” said Dr. Lidija Marušić, life sciences investment manager at Innovacorp. “Densitas is developing unique technologies that have the potential to impact millions of women, in Nova Scotia and worldwide. This home-grown innovation promises to have a significant impact on clinical outcomes and appropriateness of care.”
Densitas Inc. is an ISO-certified software medical device company. Densitas develops data-driven solutions that address the clinical, administrative and quality requirements of hospitals and radiology clinics and healthcare providers. Densitas’ vision is to be the recognized leader in transforming the untapped massive volumes of data generated in the breast imaging enterprise into actionable information to advance improved clinical outcomes and appropriateness of care. Densitas is focused on providing solutions for personalized breast health care for women and appropriate use of healthcare resources.