Holland VC fund invests in MRI software firm

HOLLAND — The Cultivate(MD) Capital Fund established by Holland-based Genesis Innovation Group annonced an investment in Bingham Farms-based SpinTech Inc., developers of brain imaging software.

SpinTech says its softwaer decreases the acquisition time for brain imaging while enabling enhanced visualization, wuantification, and automated identification of neurological biomarkers for the diagnosis and treatment of traumatic brain injury, dementia, stroke, and Parkinson’s disease.

“The innovative platform we have developed not only makes brain imaging faster and easier to read, but also provides quantitative data that improves accuracy and allows for enhanced detection through AI, which will significantly improve radiologists’ workflow while enhancing patient care.” said SpinTech CEO Ward Detwiler. “The investment funds will be used to support commercialization of our first FDA cleared product while expanding pilot testing of our next generation products. The medical device expertise that Genesis brings to the team will be a major asset as we bring this exciting new platform to market.”

Added Matt Ahearn, vice president of finance and operations for Genesis Innovation Group said: “We are very excited about SpinTech’s vision to build a comprehensive software platform for the diagnosis and treatment of brain trauma and neurological degenerative diseases. They have decades of technical and thought leadership in the field of MRI, a global network of clinical partners and a product vision to help people suffering from neurological disease. We couldn’t be more excited to partner with Ward and the SpinTech leadership team.”

More at www.genesisinnovationgroup.com or www.spintechimaging.com.

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