Pristem has developed an affordable and robust new radiology solution. The funds enable the Swiss medical device company to put the solution into large-scale production and roll it out internationally, in order to address a key global health issue.
Pristem, a start-up and spin-off from EPFL’s EssentialTech program, will industrialize a new radiology solution based on advanced technologies that have been developed in Switzerland, and are protected by several patents. The solution’s main aim is to make radiology more accessible, both technically and financially.
According to the World Health Organization, two thirds of the world’s population still have no access to this vital diagnostic technology. Meanwhile, countries that are already well equipped with radiology systems have seen costs rise to very high levels and need to bring healthcare costs in general under control.
The funds raised by Pristem will enable it to take the crucial step of starting industrialization and production of its prototype. Its “all-in-one” system - which will be commercialized within 2 years - will be high-tech, user-friendly, economical and highly robust, making leading-edge radiology accessible even in remote areas and difficult environments, particularly in low- and middle-income countries. Pristem’s solution is the result of a collaboration started in 2012, involving prestigious research centers (EPFL, HES-SO, CHUV, PSI and Swiss TPH) under the leadership of EPFL’s EssentialTech program.
International fund-raising round
The fund-raising, supported by Glosya Sàrl, brought in CHF 14 million from two Swiss investors – including the lead investor Privegest that will contribute extensive experience in the medical service sector – and two African investors, one of which runs a major medical imaging group providing valuable insights into the final customer needs.
Blaise Mentha from Privegest, the lead investor, said: “We decided to invest in Pristem and support its development because of its comprehensive and disruptive approach. It is similar to building an ‘advanced allterrain vehicle’, i.e. a robust, cost-effective and capable of working effectively in both modern cities and the most remote locations.”
Pristem was set up by experienced engineers and business developers and is now recruiting health informatics and industrial engineering specialists in Switzerland.
(Press release)
Picture: Pristem Team , ©EPFL, Alain Herzog - Jamani Caillet
Please login or sign up to comment.
Commenting guidelines