Nimbus Synergies, a leading Canadian early-stage health technology investor, has led a $2.6 million investment in MetaOptima Technology, a digital health company that is revolutionizing the dermatology and skin care industry with affordable, effective, and intelligent AI-driven solutions. Existing investors, including Skip Capital and AirTree Ventures, also contributed to the funding round. In addition to this, MetaOptima also received a $2 million investment from WD Business Scale Up program ramping up the total capital raised to over $4.6 million.
DermEngine AI, MetaOptima's latest product, utilizes its proprietary database of more than 2.7 million patients and 10 million images to enable early identification of skin cancer with the power of AI. By accurately detecting skin cancers, DermEngine AI helps healthcare providers save lives and avoid unnecessary procedures, leading to improved patient outcomes. Additionally, the tool has the potential to significantly reduce costs and improve patient experience by eliminating the need for biopsies that are often unnecessary. Research has demonstrated that the rate of such biopsies in primary care centers in the US is as high as 92%. DermEngine AI addresses this issue effectively, making it a valuable addition to the field of skin cancer identification.
Proceeds from the financing will be used to accelerate and achieve US FDA approval for DermEngine AI following the completion of MetaOptima’s latest clinical study. DermEngine AI is a software product that leverages MetaOptima’s existing software and is compatible with MetaOptima’s dermatoscopes, including the MoleScope™. It is designed to help healthcare professionals diagnose skin problems efficiently, generate treatment options intelligently, and monitor efficacy seamlessly.
“We're excited to partner with MetaOptima in their mission to revolutionize the dermatology industry with AI-powered solutions,” said Paul Geyer, CEO of Nimbus Synergies. “MetaOptima’s innovative technology and extensive datasets have the potential to transform the field of dermatology by fast-tracking diagnosis, reducing the time and expense of unnecessary biopsies, and improving patient outcomes. We look forward to working closely with MetaOptima's team to help achieve these goals.”
As part of the investment, Paul Geyer will join MetaOptima's Board of Directors, bringing his extensive entrepreneurial and health technology experience to the company.
“The dermatology and skin cancer treatment industries are facing significant challenges, including limited access to specialized care, high costs, and long wait times,” said Dr. Maryam Sadeghi, CEO and Co-Founder of MetaOptima. “We're thrilled to have the support of Nimbus Synergies to accelerate our mission of making dermatology more accessible and accurate. With their help, we can bring our life-saving tools to millions more patients worldwide.”
ABOUT NIMBUS SYNERGIES
Nimbus Synergies leads early-stage financings in innovative and complementary health technology companies in Canada. By bringing these companies together to share resources, industry specific knowledge, and relationships, Nimbus is accelerating their growth and increasing their likelihood of success. Nimbus is significantly impacting the health technology sector through its leadership as investor, partner, and mentor.
ABOUT METAOPTIMA
MetaOptima is an innovative digital health and AI company based in Vancouver, Canada that strives to empower users with AI technologies to lead a healthier, happier life. MetaOptima is dedicated to revolutionizing the dermatology and skin care industry with effective, affordable, and intelligent tools. The MetaOptima team not only takes pride in a bold vision to save lives and contribute to better healthcare outcomes, they also work hard to build a successful company, creating jobs and developing tools that make the world a better place for patients, doctors and businesses alike.