Dutch artificial intelligence firm Quantib has scored a more than $2.3 million (USD) grant, which it plans to spend on accelerating the development of a new prostate cancer solution.
The money comes by way of the European Innovation Council Accelerator and balloons the Rotterdam, Netherlands, company’s fundraising total to almost $13.5 million, officials said Tuesday.
Quantib earned clearance from the U.S. Food and Drug Administration last year for an AI solution that helps radiologists read MRI brain scans. Now they’re eyeing another that would bolster prostate cancer diagnosis while reducing practice costs.
CEO Arthur Post Uiterweer on Tuesday called the new grant money a “major vote of confidence,” and labeled their in-the-works product “first of its kind.”