RheumaFinder Announces Investment to revolutionize care for patients with rheumatic disease

Ghent, Belgium, February 2024 – RheumaFinder is excited to announce an investment from Belgium’s Novalis Biotech Acceleration Fund.

This investment, executed as a seed-participation in December 2023, marks a pivotal step in the company’s journey.

RheumaFinder is at the forefront of revolutionizing rheumatology medical imaging with cutting-edge AI technology. Given the propensity for diagnostic delays and underdiagnosis in rheumatic diseases, RheumaFinder addresses this critical clinical need head-on.

The company’s innovative engine diligently analyzes standard medical images to detect early signs of structural damage in joints. This early detection tool serves as an invaluable aid to radiologists and rheumatologists, contributing to sustainable healthcare practices by providing earlier and more accurate diagnoses of rheumatic diseases. This ensures that patients who may be unaware of their condition can receive timely and appropriate treatment, streamlining the healthcare pathway.

RheumaFinder’s ultimate goal is to facilitate timely interventions for numerous patients, thereby safeguarding joint health and significantly improving quality of life.

With this new infusion of capital, RheumaFinder aims to further develop and clinically validate their AI software solution. Additionally, the company plans to initiate conversations with external parties such as hospitals, clinics and pharmaceutical companies for potential collaborations, enhancement of clinical trials and beta software testing opportunities.

Wim Van Criekinge, Co-Founder and Managing Director of Novalis, praised RheumaFinder: “”Their exceptional team and founders’ expertise deeply impressed us. We are aligned with their vision of a lean AI engine that addresses the currently unmet clinical need for early detection of  rheumatic diseases. We’re confident that their technology’s multimodal sensitivity has potential for broad market applications and will make RheumaFinder a standout in the maturing medical imaging AI sector.”

Nicolaas Fosselle, CEO of RheumaFinder, commented on the collaboration: “Novalis has been an invaluable addition to our funding process, bringing not just financial support but also a synergistic ecosystem to bolster our ambitious growth. Our interactions with Kjell Mortier and Wim Van Criekinge at Novalis during late fall solidified our initial impressions, leading to a timely and fruitful agreement. Novalis’s commitment to translate extensive scientific and clinical research towards commercialization aligns perfectly with our mission to address the societal and patient challenges posed by late or underdiagnosed rheumatic conditions.”

About RheumaFinder BV (www.rheumafinder.ai)

(Ghent, Belgium) RheumaFinder is a medical imaging AI startup specializing in rheumatology and rheumatological radiology. Using advanced AI technology, RheumaFinder analyzes standard medical images to detect early signs of joint damage, addressing diagnostic delays and underdiagnosis in rheumatic diseases. Their mission is to ensure timely interventions for patients, preserving health and improving quality of life.

About Novalis (www.noval.is)

(Ghent, Belgium) is an early-stage venture capital investor in technologies that revolutionize healthcare. The fund’s core competence lies in digitalization in the life sciences with a focus on “enabling technologies” within research and manufacturing technologies, genomics, bioinformatics, diagnostics, and personalized medicine.